Divorce includes structured settlement….can I protect to ensure he pays?
My husband has created fraudulent debts to make it look like I cannot cash out the equity in our home. Its a long story and has cost me over $4k in attny fees to get awarded very basic equity that he wants to make in structured monthly payments. There is a clause in my divorce papers that says bankruptcy is not an release for this debt. However, he has already made it clear he has no intention of making any of the monthly payments. His checking acct is continually overdrawn and he rarely pays banks and creditors on time, so there is little reason to believe I will get my money. I am wondering what experience you have to help me? I have requested a lein on the house (he wants it), an insurance policy or some other penalty be attached to non-payment, I also suggested there be a “bonus” for regular monthly payments (say a $1000 less owed). But my attorney has not responded to any of these saying “he has to pay”. But I know better. What did you do to protect yourself?
You may just have to go ahead and execute on the judgment. Even though the divorce decree says bankruptcy is not a release for the debt, federal bankruptcy law may say otherwise. Because of the supremacy clause in the constitution, in some cases, federal law ‘trumps’ a state court decree.
This does not sound like a guy you want to trust to make payments. It may be in your interest to agree to take a lesser amount, but to get it NOW.
Hi,
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