These funds were in place before I married….and every cent deposited into them I earned. We’re in New York State. From what I have heard from other contacts, assets purely in my name cannot be attached. Worst case scenario, I’ll transfer my assets into my sister’s name.

We’re in New York State. All of these assets were acquired prior to my marriage. I opened each fund and each deposit into the accounts was made by me.

I spoke with the debt counselor (MMI) that my husband spoke with and he said to me that the IRAS (Rollover and Roth) could not be touched, as per State and Federal law. I’m hoping that’s the case, or it’s ten years worth of savings gone down the drain.

Any posters from New York State out there?

Filing for bankruptcy requires you to reveal all of your finances/financial picture. Therefore, you will have to reveal the retirement accounts and savings where you have this $16,000. A judge may not approve your request to file for bankruptcy once it is known that you have funds to pay the debts, even if you do not want to spend them on that to “rescue” your husband, stubborn as he appears to be.

I do not know the ins and outs of filing for bankruptcy, but I do know that you need to reveal the full picture so the judge can decide whether or not to let you file at all, Chapter 7 or Chapter 13. Maybe you better get a payday loan here or here and try to stay afloat? Since it is clear that you make enough money to be put on a Ch 13 repayment plan, I think the new threshold is $100 a month repayment plan for 5 years, you may be forced to repay his lousy spending decisions.

Keep us updated.