Question: I've got a ton of debt from my divorce and I need to file bankruptcy. My husband had me get credit cards that he used to start a business on Windward Parkway in Alpharetta that didn't work out. His credit was already bad because of an investment in a Lake Lanier boat repair business that failed during the recession when nobody wanted to repair their boats.
We both like sports cars so we bought a Corvette at Jim Ellis Chevrolet Atlanta and a 5 series BMW at United BMW Roswell. When the business started to have problems we stopped paying on the cars and they were repossessed. Now the bank says we owe them money and they have been threatening to sue me. We had to give back our jet skis too.
I recently needed emergency dental work and I went to a dentist in Sandy Springs. The problem is that I can't pay the dentist and he has sent the bill to a debt collection agency.
I need to know if I can get rid of all this debt because if I don't I'll never be able to buy another house and I'll probably get a wage garnishment.
Answer: We certainly understand how a divorce can cause serious financial issues. The good news is that all of the types of debt you mention – car and jet ski repossessions, credit card debt and the dentist bill – are all dischargeable in a bankruptcy filing. Indeed, after filing bankruptcy all creditors are forbidden by federal law from initiating law suits against you or even contacting you. Bankruptcy provides protection against creditors and contacting you would be a violation of the "stay" provision in the bankruptcy statute.
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