Does bankruptcy judge overrule the divorce judge?
I got this email from a member of Canadian Money Advisor. It's regarding her divorce settlement and the debts she 'acquired' from the marriage. Oh yeah, this lady has 5 kids that she's trying to support.
The Plaintiff (husband) shall continue to maintain all of the martimonial liabilities and shall indemnify the Defendant (wife) from further responsibility for these liabilities
That seems to say to me that whatever was considered 'matrimonial' debt, was the Plaintiff's responsibility, and according to the definition of 'indemnify' from the dictionary, I am absolved from further action.
The situation is that while married, this couple accrued approximately $350,000 in debts including mortgage, car, credit cards etc.. together..
After they got divorced, the husband declared bankruptcy and cleared himself of any prior debts.
Since this topic goes beyond my scope of understanding... I'm curious if any body knows the following:
1) Does the divorce judges rule override the bankruptcy judges ruling?
2) Does the divorce judgement have a statutes of limitations
3) Since the plaintiff was ruled to continue to maintain all of the matrimonial liabilities , is he still required to do so...?
My personal comment is still the same.. this scares me to death.. The devastation brought about by a high debt / divorce mixture is stunning. Even if you're making a very decent salary, it would be hard to maintain this type of debt.
Divorce takes out one of the main bread winners, just as a death would. However with death you can get the life insurance policy benefits. There is no divorce insurance to cover you.
HELP NEEDED ON THIS TOPIC
If you have any experience dealing with this topic your responses would be much appreciated.. Divorce law and bankruptcy laws are complicated enough. Having one supersede the other is an even larger topic I'm sure.
I got this email from a member of Canadian Money Advisor. It's regarding her divorce settlement and the debts she 'acquired' from the marriage. Oh yeah, this lady has 5 kids that she's trying to support.
The Plaintiff (husband) shall continue to maintain all of the martimonial liabilities and shall indemnify the Defendant (wife) from further responsibility for these liabilities
That seems to say to me that whatever was considered 'matrimonial' debt, was the Plaintiff's responsibility, and according to the definition of 'indemnify' from the dictionary, I am absolved from further action.
The situation is that while married, this couple accrued approximately $350,000 in debts including mortgage, car, credit cards etc.. together..
After they got divorced, the husband declared bankruptcy and cleared himself of any prior debts.
Since this topic goes beyond my scope of understanding... I'm curious if any body knows the following:
1) Does the divorce judges rule override the bankruptcy judges ruling?
2) Does the divorce judgement have a statutes of limitations
3) Since the plaintiff was ruled to continue to maintain all of the matrimonial liabilities , is he still required to do so...?
My personal comment is still the same.. this scares me to death.. The devastation brought about by a high debt / divorce mixture is stunning. Even if you're making a very decent salary, it would be hard to maintain this type of debt.
Divorce takes out one of the main bread winners, just as a death would. However with death you can get the life insurance policy benefits. There is no divorce insurance to cover you.
HELP NEEDED ON THIS TOPIC
If you have any experience dealing with this topic your responses would be much appreciated.. Divorce law and bankruptcy laws are complicated enough. Having one supersede the other is an even larger topic I'm sure.
