I am about to file for divorce. mu husband has no credit, so we put everything in my name, i have a $385,000 mortgage, $42,000 car, and other bills all in my name.A mistake on my part! I make $27,000 a year,there is no way I can pay these payments. I have always had great credit. What chapter will I have to file and what can I expect…WIll this be a 10 year ordeal to get my credit reestablished?
ANSWER
I am not a lawyer but my common sence says that you should consider investigating Chapter 7 and cleaning out yourself entirely. Just an opinion. It will take likely less than 4 years to reestablish your credit.