My husband and I are married for 4 years now, have 2 kids and one on the way in a few months. When I married him he made it seem that he is financially stable and ready for a family.
But when his cash cow business was shutdown right before we got married things spiraled into insurmountable debt. Basically he has been unemployed for 4 years and has only operated and owned busineses.
So the past 4 years he has tried to form businesses that never materialized and put us in a lot of debt with friends, family, and investors, and business partners.
We filed for CH.7 bankcruptcy a few months ago jointly, because he had a lot of judgements, liens, tax liens, and business debts he accumulated before we were married, and that has been a nightmare.
I thought it would give us a fresh start, but now the bankcruptcy began and we are faced with 3 adversary complaints and have to seek new counsel (bankcruptcy ongoing for 4 months now). New counsel said th at most liked the adversary complaint of one of his investors will not be discharged.
So basically even if we file for CH7, there is likelihood that $400,000 of it is non dischargeable. So we will be up for a long haul in paying that down. My husband hasn’t made a penny now in his new venture, and we are surviving on borrowed money from family.
Is there hope for this situation? I feel so sucked in, and I had nothing to do with any of this debt, but my name is on everything.
I love my husband and we have 2 beautiful children and a baby on the way and I feel as if my health and mental well being is on the line.
I am seriously depressed, pregnant and pray constantly for a miracle in the business dealings he has been working on and nothing seem to be clicking. What drastic changes must I do to help him realize that his investments and financial irresponsibility is going to affect our future.
We dont own anything. But the thought of owning anything seem so dim now with 400K of debt following us for the rest of my life. Will me divorcing him help me start fresh? I only want just so i feel more secured that his future dealings wont hunt me. I do still want us to live together but just not the financial obligation. Or is it too late now.
If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.My Husband is Horrible About Dealing With Money. Grand Schemes and Debt is All We've Got. - Marie by Steve Rhode