No. of Recommendations: 5
you need to talk to a lawyer that can advise you both on divorce and bankruptcy. You won't walk away without paying any of the debt, but doing both will provide you a clean start.

About divorce, if your name is on a debt and you divorce and the court assigns the debt to your spouse, unless the lender agrees otherwise you still owe the money. If your spouse doesn't pay the bill, your credit still gets dinged, and you're still on the hook for the loan.

Generally, the best way to deal with community debt in a divorce is to pay it off, close the account and move forward. In my case I had to refinance the house to get my ex off of the mortgage. All credit cards were paid off and closed when we started our divorce and new credit cards were obtained as individuals.

If you go the divorce route, verify your state specifics with your attorney.

Good luck and I hope you work everything out.
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