My hubby and i are going threw this right now in fact we go to court next month! So I know your pain! Ok first : gather ALL credit cards you have …. Fill large one gallon bag of water, put cards in water, shove bag in freezer! Next call a lawyer FAST!!! you and your wife should both see him/her you want to look into chapter 7 – and chapter 13 , (7 discharges ALL debit) 13 it lets you make payments on your debit! See what will work for you. I warn you there is loads of paper work and classes to take ( it’s a real pain!!) but to answer one of your questions YES they can garnish wages from you and your wife. when you are married you are one ! In my state atleast they say that all is fair in love , war, and money …. meaning that if it is yours it’s hers! Good Luck hope this helps !! But really find a lawyer they can let you know what needs to happen right now and who needs to be involved !!!!

Joesph,
Sorry for the hard spot you’re in right now. I’ll help as much as possible, but I recommend getting professional advice from a “non-bankruptcy” attorney. A BK atty will always tell you to file as that’s how they make a living.
1. CA is a non-recourse state. They can not file on you for the deficit.
2. IMHO, No.
3. Since #2 is No, this doesn’t apply.
4. Yes, you will get a 1099 for all non-purchase money that goes into default.
5. If you have a foreclosure, they are generally disregarded by lenders after 4 to 7 years max, depending on lender guidelines going forward. If you file a BK13, it will run for 5 to 7 years until discharge, then your credit will be affected for another 4 to 7 years after that for a total of 9 to 14 years all together. From a strict credit stand point, Don’t file BK.
Again, I wish you the best.

Hey UYTY…………Why don’t you do your advertising somewhere else. This board is for answering questions……NOT for advertising. You are getting irritating, I wouldn’t buy any of your stuff!!!!