should we?

[whalesoup]

Okay, so my partner and I (lesbian couple, been together for ten years) have been considering doing a debt-management-plan to get control of our credit card debt. we also have about 70,ooo in student loans, but that, of course, is outside the purview of those plans. my partner has been considering declaring bankruptcy on her part of the credit card debt (appx 14,000 out of a total of 26,000 in credit card debt). my questions are:

1. would we have to completely separate our bank accounts, etc. prior to her declaring bankruptcy? if so, how long would we have to keep our stuff separate?

2. our financial situation has been really crunched by the fact that my partner is waiting to pass her professional exams. so, for the last year, her income has been, maybe 10,000 (while mine is about $40,000). however, she took the exams again recently and may find out within a week or so that she passed.... if she passes she may be able to get a job within the next six months where she is making between 30-60,000/yr. if she files for bankruptcy now - based on her current income - and then 1-2 months down the line gets a job making much better money, can she be accused of "fraud"? should we wait to see if she passes and then file? or should she file now and then withdraw her appeal for bankruptcy?

3. I heard that the bankruptcy laws will change on January 1st, and these changes will make it much harder for folks to file for, and get bankruptcy... is this true?


thanks for your feedback, whalesoup

 

[Ex Ins Guy]

It is NOT fraud to file before she comes into money, but I am not sure the long term black mark on her credit is worth it for a relatively small sum (given her new, hopefully) status. She should see a bankruptcy attorney, pay a $100 or so, and get real advice. If the CRreit card debt is recent, it may not be discharged. And the new law would be mush tougher on her -- but I am not aware it passed.