Did i do a dumb thing?
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Did i do a dumb thing?
| Mon, 02-21-2005 - 9:32pm |
Well, we are two days and counting until things are finalized. When I first filed, I agreed to take the credit card debt ($22k), and he would take the toys we bought with the credit cards. The cards were all in my name so what could I do. Well now that we are T minus 2 days, I am having second thoughts. I called the courthouse and told them I found out some new info regarding his financial situation (he told me after we dropped paperwork off at the courthouse that he has $100K in company stock) and now wanted to go after him for at least half


Do you have an attorney? I have no idea why you'd agree to take all the credit card debt and none of the toys. You can sell the toys and pay off at least some of debt, and even if not, he can be legally responsible for 1/2 the credit card debt and you might be entitled to 1/2 the value of his company stock. He should also give you 1/2 the value of the toys, so if he's taking a jet ski and exercise equipment worth $10k, he gives you $5k cash. One thing is the credit card company will not hold him responsible for the debt that is in your name, so if he fails to pay them then it would ruin your credit - but if he has $100k in company stock received during the marriage that is marital property and is 1/2 yours (depending on your state's laws). He could be ordered to give you $50k for the stock, 1/2 the value of the toys in cash, PLUS pay 1/2 the credit card debt (you would just have to monitor your credit cards and make sure he paid, and if he didn't, you pay at least the minimum until you can get back into court for him to start paying again).
Edited 2/21/2005 9:41 pm ET ET by firstamendment
NO that was NOT dumb, in fact.... SMART!
Karen ~ wildlucky4me ~