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Welcome to the Considering Bankruptcy category of the Support Group. Are you considering bankruptcy? This is the place for discussions about Considering Bankruptcy.
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Discussion: My husband just wants to walk away....  (Read 551 times)
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« on: August 17, 2011, 05:57:42 PM »
sinkingfast
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After lots of arguing, fighting, screaming, etc. he just wants to walk out of our house, move into a rental and whatever happens to the house happens..
We still have about $35,000 equity in it...but no money to pay the next set of bills, second mortgage, interest only is the first thing...and when we don't pay that, the will take the house..

The stress is enormous and I am not sure what is going to happen next.  STUPIDLY, we thought our house would sell quickly...yet it has been over a montha nd very few lookers, no matter what we are in a sinking ship.

My 16 year old called us every name in the book, due to the fact my husband hasn't been able to find employment...my 13 year old , thankfully was at camp when all this happened, but got to witness the big supper blow up..

we paid the first months rent on a place, last month thinking our house would be sold by now, so either we scrape together the rest, move, then go bankrupt...

Or call him, take the chance of being sued by someone else..and sit her til the house sells or gets repossessed...

No easy answer...
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« Reply #1 on: August 19, 2011, 03:03:51 PM »
alex
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Go and see a Bankruptcy Trustee NOW! There is no point in waiting, it will only get worse. That is the first step in getting your life back together. It is a difficult step, but in hindsight, you will wonder why you didn't do it sooner. Take control, or others will take control of you.
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« Reply #2 on: August 21, 2011, 09:55:53 PM »
MortgageEnder
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Like what Alex said, you need to take control.  From a mortgage standpoint, you are saying there is 35K in equity but you owe 250K in Credit Cards and 80K on LOC, the equity will not help your situation. You need to see a trustee to see your options.  The house will be taken by the bank but at least you regain your peace of mind.  See the trustee's opinion and find out if this is a feasibility.  Peace of mind is worth more than seeing you and your husband wake up in the middle of the night.

I wish I could help you.  Go to the trustee and look for a solution to your problem.  It will not go away.
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« Reply #3 on: August 22, 2011, 01:57:06 PM »
Lilly83
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Most important thing to remember is that financial stress can be REALLY hard on people ! Everyone reacts differently. Your husband is probably going through alot of emotions, especially if he has been unable to support his family for awhile now. As well as emotions you will also go through.

There was no way to know that your house would take so long to sell. That is life. I have a friend in the same situation. In their new house but haven't been able to sell the old one and paying both mortgages is stressing her so bad her hair is falling out.

As for the teenagers, they dont understand. They think you go to work, you make money, you pay the bills. They dont know what the real world is like yet, and perhaps this can be the best thing to happen to them in the long run. Seeing what their parents did and learning from that situation ! I never had that to learn from, could have been very helpful .

You and your husband have to decide what is the BEST step. Perhaps see a trustee right away, it could be as simple as 9 months and your done ! Who nkows until you find out.

Good luck Smiley
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