Car question,
My son has had a child and now has a GF living with him. He owns the home, I own the land, he has a couple trucks, some toys and small trust in his name. Because of this he has not broached getting married to my grandsons mom because she has considerable debt. She had a car that was charged off for non payment before they met. The car no longer exists, it was scrapped. She also has an old Verizon bill, Duke energy bill, payday loan, credit card around $1500. There were a couple other small things all totaling 40K. She will qualify for the bankruptcy with the total debt but a car is considered a secured debt but it no longer exist. I’m getting some conflicting information on that end on line. Some people are saying that the car will not qualify in bankruptcy due to that. But the car was wrecked and scrapped long after the charge off. It’s been years since the charge off. I know she is very financially irresponsible, she also does not work. We have discussed her working to pay off her debts but she has adamantly refused. I want to get her financially responsible as she is now a part of my family and doesn’t appear to be going anywhere. She can’t be a supportive partner with this around her neck and at this point it’s dragging them both down. She wants my son to marry her but I’m concerned about her debts and the impact they will have. I wouldn’t want to risk the land I’m giving him, his trucks, boat or trust fund because of her debts. We are not rich, but we have worked a lot to get to where we are. I mean my husband is 66 and still works 2 full time jobs, not a full time and part time, I mean 2 full time jobs, I still work full time. I carry my son and the new grandson on my state health insurance plan. So we are not so well off we can’t work. We just wanted our kids to be comfortable. Even if we had to die trying. So I need advice as how to fix this with out my son having to pay for it with money we worked for. Please help. I will even pay for the bankruptcy filing myself to get rid of this. I just need some advice if this will even work.