Bankruptcy and Credit Repair in the Post Divorce World.

SFC Mark Merino — Tue, 17 Feb 2015 21:43:19 -0500

Sometimes, getting lawyers involved in some of your financial problems (trying to save you money) it could have been better to just pay the piper up front. Does anyone have any survival and success stories of post-divorce credit repair?

Response by SPC Christopher Green made Feb 17 at 2015 10:00 PM

SPC Christopher Green — Tue, 17 Feb 2015 22:00:25 -0500

It's been about 10 years since I handled a bankruptcy case and the laws have changed since that time quite considerably, however if you are in dire financial straits, bankruptcy can be the best option. Of course there are success stories in post-divorce, post - bankruptcies, but that is just like everything else in life--it is what you make it to be.

Response by SFC Private RallyPoint Member made Feb 17 at 2015 10:00 PM

SFC Private RallyPoint Member — Tue, 17 Feb 2015 22:00:29 -0500

SFC Mark Merino I did the negotiation and filed the court paper work myself. It worked for me.

Response by SPC(P) Jay Heenan made Feb 17 at 2015 10:07 PM

SPC(P) Jay Heenan — Tue, 17 Feb 2015 22:07:20 -0500

When I got divorced (prior to the military), I lost EVERYTHING...house, child, job, credit score and money. I am still paying my ex off to this day. I wish I had an easy fix for you, but it really just takes a lot of time. I declared bankruptcy as well, and that haunts you for many years. I haven't been able to save for my retirement, as my family and I have been living paycheck to paycheck until recently. Anyway, if I were to offer any advice, it would be to stay positive and don't spend your years angry. I stewed about being broke and all that my ex did to me for years. It didn't change anything except me. Just stay positive and keep going, things WILL get better.

Response by MAJ Private RallyPoint Member made Feb 17 at 2015 10:13 PM

MAJ Private RallyPoint Member — Tue, 17 Feb 2015 22:13:59 -0500

No different then credit repair at any other time, but you have the emotional baggage now associated with that debt. Which mean you now fill like you are in a deeper hole and you are not completely responsible for putting yourself there. As hard as it may be you have to move past that anger and maybe even guilt and eat the elephant one bit at time. It seems like a task too large but break it down into bite and slowly but surely the debt will decrease. Progress is progress and that is hard to swallow at times since we just want the debt gone to get a fresh start. Use the traditional methods of paying of the higher interest cards 1st and if things get put on your credit report then call and negotiate a payoff or a payment plan. If you can take out a debt consolidation loan as well. Use all tools available to you. Hope that helps

Response by SGT(P) Private RallyPoint Member made Feb 18 at 2015 1:04 AM

SGT(P) Private RallyPoint Member — Wed, 18 Feb 2015 01:04:30 -0500

Honestly, with me and my EX I did not want the headache and took on all of both of our debts. It did suck paying it all off. I like to think we ended on a good note when we agreed to everything. I suggest looking into Dave Ramsey Debt Snowball.

Response by CPT Jack Durish made Feb 18 at 2015 1:04 PM

CPT Jack Durish — Wed, 18 Feb 2015 13:04:39 -0500

The best advice I have to offer is don't be reasonable. Protect your own interests and let the other party protect theirs. If you try to be reasonable you find yourself outnumbered: You and your soon to be "X" versus you.

Document everything. My "X" wanted to keep the Mastercard so I went to the bank paid it off and had the bank manager write a letter certifying that the account was paid in full and that I was no longer liable for it. Later when the bank contacted me to pay off the debts my "X" incurred subsequent to our split, but prior to our formal divorce, I armored myself with their own letter. It worked like a charm.

Give yourself time to mourn. A divorce is almost identical to a death. You will go through the same stages of grieving as if your spouse had died (except that they are still there to haunt you). The grieving process will last two months for each year of marriage. (I know you're doubting this, but I've experienced it and witnessed it in many deaths and divorces suffered by others.)

Good luck and remember that there are others who have survived it. So will you...

Response by SSG Sean Garcia made Feb 19 at 2015 2:02 AM

SSG Sean Garcia — Thu, 19 Feb 2015 02:02:13 -0500

Luckily my stuff was old enough to fall off, but right after my divorce I was literally screwed. I couldn't get credit on a $5 item

Response by MAJ Matthew Arnold made Jul 28 at 2021 3:10 PM

MAJ Matthew Arnold — Wed, 28 Jul 2021 15:10:29 -0400

After 22 years of marriage I got a divorce. There was a lot of debt, stuff, finances, retirement, and kids to "divide". The court is not interested in being fair to you. The court just wants to settle the case. The court will approve whatever the two opposing lawyers agree on. So, don't be nice, let the lawyers do their job, and hopefully reach a somewhat fair settlement. My divorce was a long time ago (2000), hopefully things are better now.