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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] I'm in a bad situation... need help quick! Posted by Sherica on August 07, 2003 at 9:35 PM Hello everyone, I'm about to see an attorney tommorow for bankruptsy and wanted to see if I had any options before I file.... I bought a house with a VA loan as a co signer with my husband for $83,000 in March of 2002, and we divorced last September. In the divorce he took responsibility for the house (don't know what that's called), but the loan of coarse is still is in my name as well. The almost identical house next door sold for $62,000 before I moved out in August of last year, so that pretty much eliminated the chance of selling the house (that house next door was actually in better shape than ours). I received an email from my ex about a week ago saying he had not made a payment since Dec. of last year. I have had no letters, calls, nothing from the loan company before that. Well, I called the loan company today and they said the foreclosure will be final Sept. 2nd. I am unemployed and going to school and have no way of taking care of the house. He is planning on filing chapter 7 bankruptsy, so I'm thinking they will come back one me for the money that is not made on the house (which should be a LOT!!). He has basically just screwed me. I'm wondering what reprocussions will be from the VA and the bank. Should I file a chapter 7 also? I don't want the lawyer to talk me into it if it's not necessary. One more thing to consider.. I also co signed with him on his car which he let them reposess (he's a serious loser!) that we owed 15,000 and they sold for 4,000, so there is an $11,000 descrepency on that too (pardon my awful spelling). I am in TN now, if that makes a difference. I have a car in my name (never a payment a day late) that will be payed off in Dec., and a computer that I also payed off. My credit would be perfect if it wasnt for this awful situation. I tell ya one thing... I've learned my lesson on who to take out loans with!!! Thank god I'm only 23 and can have my credit situation ok by the time I'm 30. I just really need to know what actions will be taken against me, if the VA will make any kind of difference, and if I should go ahead and file Ch. 7. All I know is that it's not fair that even though we have got a divorce and has taken responsibility for this house and the rodeo, and I have not not talked to him or recieved any info on the payments not being made, AND not lived in that house since all this has happened and I could possibly take all responsibility for him not caring at all (due to the fact he's going to file ch. 7). I just really need some advice guys. Anything would be so greatly appreciated. The thought of filing bankruptsy makes me a nervous reck! I'm hoping that someone besides a bankruptsy attourney can give an oppinion. Thanks so much for anyone with advice! Follow Ups: Re: I'm in a bad situation... need help quick! Lughead 11:09 PM, 08/07/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Hello everyone, : I'm about to see an attorney tommorow for bankruptsy and wanted to see if I had any options before I file.... I bought a house with a VA loan as a co signer with my husband for $83,000 in March of 2002, and we divorced last September. In the divorce he took responsibility for the house (don't know what that's called), but the loan of coarse is still is in my name as well. The almost identical house next door sold for $62,000 before I moved out in August of last year, so that pretty much eliminated the chance of selling the house (that house next door was actually in better shape than ours). I received an email from my ex about a week ago saying he had not made a payment since Dec. of last year. I have had no letters, calls, nothing from the loan company before that. Well, I called the loan company today and they said the foreclosure will be final Sept. 2nd. I am unemployed and going to school and have no way of taking care of the house. He is planning on filing chapter 7 bankruptsy, so I'm thinking they will come back one me for the money that is not made on the house (which should be a LOT!!). He has basically just screwed me. I'm wondering what reprocussions will be from the VA and the bank. Should I file a chapter 7 also? I don't want the lawyer to talk me into it if it's not necessary. One more thing to consider.. I also co signed with him on his car which he let them reposess (he's a serious loser!) that we owed 15,000 and they sold for 4,000, so there is an $11,000 descrepency on that too (pardon my awful spelling). I am in TN now, if that makes a difference. I have a car in my name (never a payment a day late) that will be payed off in Dec., and a computer that I also payed off. My credit would be perfect if it wasnt for this awful situation. I tell ya one thing... I've learned my lesson on who to take out loans with!!! Thank god I'm only 23 and can have my credit situation ok by the time I'm 30. I just really need to know what actions will be taken against me, if the VA will make any kind of difference, and if I should go ahead and file Ch. 7. All I know is that it's not fair that even though we have got a divorce and has taken responsibility for this house and the rodeo, and I have not not talked to him or recieved any info on the payments not being made, AND not lived in that house since all this has happened and I could possibly take all responsibility for him not caring at all (due to the fact he's going to file ch. 7). I just really need some advice guys. Anything would be so greatly appreciated. The thought of filing bankruptsy makes me a nervous reck! I'm hoping that someone besides a bankruptsy attourney can give an oppinion. : Thanks so much for anyone with advice! Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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