H
Had_It_In_VA
Guest
What is the name of your state? Commonwealth of Virginia.
This is my first post, and have been browsing for a couple days, reading many older threads. I like the honesty I see from all the regular responders, so here goes my question. My marriage is in decline. I plan on informing spouse in the next year that I want out. (22 years) My concern is that I have heard many horror stories of Virginia divorce decrees. There will be no minor children in the household next year, hence my waiting. What financial planning advice would you give me ahead of time? We have one house, with more debt (credit card) than assets to divide. I will not leave spouse holding the bag, but want to move out of state and start over, with at least some income of my own that I won't have to send to spouse. Here's the big question: In division of assets phase of separation, can I volunteer to take the lion's share of the debt, move out, and declare bankruptcy without harming spouse's credit rating? Is this legal, or tantamount to conspiracy for fraud or something along those lines? I have a feeling it happens often, but would like to know ahead of time.
This is my first post, and have been browsing for a couple days, reading many older threads. I like the honesty I see from all the regular responders, so here goes my question. My marriage is in decline. I plan on informing spouse in the next year that I want out. (22 years) My concern is that I have heard many horror stories of Virginia divorce decrees. There will be no minor children in the household next year, hence my waiting. What financial planning advice would you give me ahead of time? We have one house, with more debt (credit card) than assets to divide. I will not leave spouse holding the bag, but want to move out of state and start over, with at least some income of my own that I won't have to send to spouse. Here's the big question: In division of assets phase of separation, can I volunteer to take the lion's share of the debt, move out, and declare bankruptcy without harming spouse's credit rating? Is this legal, or tantamount to conspiracy for fraud or something along those lines? I have a feeling it happens often, but would like to know ahead of time.