What is the name of your state (only U.S. law)? Michigan
My mother-in-law passed away and my wife quit her job and is attempting to start her own business. Losing her income has been a big hit. I have been able to keep our bills current, but all my financial resources have been depleted and I have built up a substantial credit debt.
My wife's business has potential to be successful, but at this time, it has not brought in any consistent income. She pays for most of the groceries, gas for her car, her business expenses. I pay the mortgage (home in both of our names), car payment (just paid off), utilities, life insurance, and car insurance.
My wife received her inheritance from her mother's passing. My hope is that she would use the money to stabilize our finances, but instead she wants to use the money to buy a vacation home. She asked me to go into this deal, but I refused. She says she will proceed with the deal without me.
Currently, it is a struggle for us to financially maintain one home.
My question is if she succeeds in acquiring this second home and then it not able to make any of the payments associated with the home (mortgage, insurance, utilities, taxes), can I and our current home be at risk? I have no resources to bail her out. Should I consider divorce to protect myself, our 12yr son, and our current home?
Thanks.What is the name of your state (only U.S. law)?
My mother-in-law passed away and my wife quit her job and is attempting to start her own business. Losing her income has been a big hit. I have been able to keep our bills current, but all my financial resources have been depleted and I have built up a substantial credit debt.
My wife's business has potential to be successful, but at this time, it has not brought in any consistent income. She pays for most of the groceries, gas for her car, her business expenses. I pay the mortgage (home in both of our names), car payment (just paid off), utilities, life insurance, and car insurance.
My wife received her inheritance from her mother's passing. My hope is that she would use the money to stabilize our finances, but instead she wants to use the money to buy a vacation home. She asked me to go into this deal, but I refused. She says she will proceed with the deal without me.
Currently, it is a struggle for us to financially maintain one home.
My question is if she succeeds in acquiring this second home and then it not able to make any of the payments associated with the home (mortgage, insurance, utilities, taxes), can I and our current home be at risk? I have no resources to bail her out. Should I consider divorce to protect myself, our 12yr son, and our current home?
Thanks.What is the name of your state (only U.S. law)?