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My Credit Card Debt is Killing Me After My Divorce. – Clint

“Dear Steve,

I have $50+/- credit card debt. Recently divorced. No other major debt.The financal stress contibuted to the divorce. I am living paycheck to paycheck. I would love to consolidate into one big loan and one monthly payment. I do not like the debt consolidation companies.

Bankruptcy is a question as to whether it is the right thing to do. I am working on cutting all extra expenses to put extra towards the smallest debt on credit card to get it paid off first.

My exwife still has access to the account with the little my money I have left after bills and this creates issues with her knowing the financail state that I am in. She was not willing to cut back on some things. As you know it is always complicated. I want to do the right thing and get out of the debt the best way. I am in good standing with my creitors at this time.

How do I know if I should file bankruptcy and start all over?

I am in California, If I file bankruptcy, will this affect my ex-wife?

How do I get my creditors to settle with me without having to go through debt consolidation companies?


Lifestyle choices.

Dear Clint,

Financial problems following divorce is fairly typical. I’m not aware of any lender that could give you a loan that large. The most they go up to is about $30,000. But with the financial pressure you are under I question if a loan is even the right thing to do.

I’d suggest you first read How to Get Out of Debt. The Honest and Unvarnished Truth, How Do I Get Out of Debt Quickly? Change Your Mindset, and The Truth About The Success Rates, Failure Rates and Completion Rates of Credit Counseling, Debt Settlement, and Bankruptcy. They will give you a great overview of what we need to deal with to get you moving in the right direction.

Then use the free How to Get Out of Debt Calculator to review your options.

Once you’ve identified a company you want to work with, then follow my step-by-step guide on what you should look for and expect from a good debt relief company.

If you do decide bankruptcy makes sense for you then review the links below.

Bankruptcy Articles and Posts You Must Read

To get ready to read the information below with the right frame of mind, please first read How Do I Get Out of Debt Quickly? Change Your Mindset.

Bankruptcy Advice

Life After Bankruptcy

Filing Bankruptcy Yourself

Please post your responses and follow-up messages to me on this in the comments section below.

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About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
  • Amber

    Yikes, that sounds very stressful. Debt is always a difficult burden to bear. Good luck resolving your issue.

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