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single mother unemployed in debt mostly incurred by common law spouse

I got divorced about 5 years ago and received approx $168,000 as my divorce settlement. I purchased a house outright with all the money. I immediately met a man and became pregnant. I sold my house and moved in with him into his rented accomodation. He gave up work. I paid the rent and all bills etc. I also paid off some wages to his staff and his work bills. He took control of my money and spent it. He purchased land, mobile home and construction equipment. All in my name. And frittered the rest away. I am now in approx $50,000 debt all in my name because of all this. I have been living seperately for approx 2 years and depend on money he sends me to pay the monthly debts. He threatens that if I break off with him 100% he will not work anymore and there will be no money. He is in the process of claiming bankruptcy himself. I am only able to pay the minimum payments on the debts each month and it is often very touch and go. I have a young child who is in JK alternate days. I have looked for work but cannot afford the daycare. Also I would not earn enough for my rent/food/gas/car/insurance etc and certainly not the monthly bills and debt payments. I purchased the land for approx $20,000 dollars and believe it has not increased much in value. How can I get out of this? Thank you.

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One Response to “single mother unemployed in debt mostly incurred by common law spouse”

A licensed trustee said...

I suggest you do two things. First, you should consult a family law lawyer to determine your rights, and to determine what support you are entitled to. Second, you should contact a bankruptcy trustee to determine if bankruptcy is a viable option for you. The trustee can review your assets, including the land, and determine how a bankruptcy would impact on your property.