How do I protect my house if my spouse filing and I am not?

[msyazd]

What is the name of your state?What is the name of your state? California
We are divorcing, in Colorado, wher she lives with my children. I live in CA. She is going to file for banlcruptcy. The mortgage is under my name and we jointly own the house. I do not want to sell the house , I want to make sure that the kids have roof over their heads. What are my options?

[Ladynred]

What makes you think you'll have to sell it ??

What is the equity in the house.. and what would her HALF of that be ?
She's still on the deed, she has to list it as an asset.

[msyazd]

I she file for bankcruptcy, her creditor will come after me. We are not divorced yet. We have big equity in the house, enough to pay her debts. I do not want to sell, and I do not want to file with her unless I absolutely have to. Once she file, she will be protected and I will be exposes. Right?
Please correct me.

[Ladynred]

I she file for bankcruptcy, her creditor will come after me. We are not divorced yet.

That depends. If ALL of her debt was acquired DURING your marriage, then yes, the creditors will come after you for payment. If her debts were incurred BEFORE you married and she didn't use those accounts AFTER you married, then you have no liablity for those debts at all.

This is EXACTLY why divorce often causes TWO bankruptcies.

We have big equity in the house, enough to pay her debts.

But she is NOT entitled to 100% of that equity, she only gets HALF. However, a determined Trustee looking at huge equity can still get his hands on the house. You can always offer to pay the Trustee to keep the house yourself.

I think you need to go talk to a bankruptcy lawyer yourself to find out EXACTLY what your exposure/problems may be with her filing.