Is bankruptcy an option

My husband's ex-wife is suing him for a lot of money...she is unwilling to settle with us and wants to get a judgement for the entire amount in a lump sum payment...problem is, we are unable to get that kind of money...question is, if we get this judgement against my husband, can we file Chapter 13? I really don't know much about the process, but if we file will the judgement be gone? Have any other advice?

You need to consult with an attorney. You cannot just declare bankruptcy to get rid of a particular debt. AND it ruins your credit for years to come. The bankruptcy laws are very strict since being revamped a few years ago and if you aren't having financial difficulty and suddenly this judgment is entered against you, it will be apparent you are declaring just to avoid paying that one debt. Not sure you can get away with that.

I would talk with a lawyer about your overall situation. What is she suing him for? Back child support? Some judgments aren't "forgiven" even IN bankruptcy.

no...it is a dispute over their divorce decree...she wants the full remainer of the settlement in a lump sum, which we do not have and not really sure that we are able to obtain in any type of loan...even if we did get the loan for it, we could not make the payments on it...which is why we would then start defaulting on other debts that we have...we do have a lawyer, but they aren't very good at guidance or giving advice...would a judge really pass this through knowing our financial situation as it is today, I guess is my real question...?

When you say dispute over divorce decree, do you mean the amount owed is in question? Who has the remainder of the settlement? I mean, if you sold property (for example) and she is entitled to part of it, where did the money go?Why would you have to obtain a loan to pay it? Are you contesting the AMOUNT she says she is owed with the attorney? What cause of action is he bringing on your behalf? And, if you have an attorney who is NOT providing guidance, I would suggest you get your moneys worth and find another.

And, unfortunately, judges to pretty much what they want within the confines of the law. If a party is entitled to a settlement, the other parties ability to pay is not always paramount in the judges minds. Hard to predict what a judge will say or do.

This is an informative article regarding Chapter 13 Bankruptcy: Chapter 13 Bankruptcy Law