buyout agreement

[duckslove82]

Jurisdiction

Tennessee

My ex wife and I were partners in a business. We have a post divorce settlement contract where she is buying me out of my portion for a certain amount. She just sold the business and now wants to settle in a lump sum for an amount less than previously agreed upon. When I state that, she says she will just file bankruptcy and I won't get anything. Can she do that? What are my options?

 

[army judge]

My ex wife and I were partners in a business. We have a post divorce settlement contract where she is buying me out of my portion for a certain amount. She just sold the business and now wants to settle in a lump sum for an amount less than previously agreed upon. When I state that, she says she will just file bankruptcy and I won't get anything. Can she do that? What are my options?

I don't know if she can file bankruptcy, but many people have.

I suggest you discuss your problem with a lawyer.
You're going to have to return to court and have a contempt hearing in an attempt to get the judge to hold her in contempt if she fails to follow the decree, or maybe convince the court to appoint a special master to do what she was ordered to do.

It's far too complicated to tell you how to do it.
You need a lawyer.

 

[adjusterjack]

she says she will just file bankruptcy and I won't get anything. Can she do that?

Well, that's complicated. Federal bankruptcy law does not allow the discharge of "Domestic Support Obligations."

Whether that debt is considered a "Domestic Support Obligation" probably depends on Tennessee and federal case law.

What are my options?

On the following web page, scroll down a little and start reading at B. Exceptions to Discharge - Chapter 7:

BANKRUPTCY AND DIVORCE - Moore & Brooks Attorneys at Law

Then you have two choices.

Run a bluff by telling your ex that bankruptcy law won't allow her the discharge of that debt.

Or, consult a TN bankruptcy attorney and pay him for a written opinion as to whether the debt is dischargeable or not. If he writes that it's not, present that opinion to your ex and haul her back to court for contempt if she doesn't pay.

 

[army judge]

Anyone can file a chapter 7 bankruptcy.
The mere filing of such an action causes a federal injunction against any legal activity to sue the person until the stay is lifted.
Clever people do this to buy time and peace, but mostly to vex their adversaries.

This type of filer uses the 60 day stay to keep the debt collector, repo man, or process server away.

The suit gets dismissed, and some quarrelsome people file within a few days of previous dismissal.