As a Broward County bankruptcy attorney, please note that judgments even though from out of state can be included in a bankruptcy. We would need to consider your overall situation to see whether a bankruptcy would be advisable for you.
I agree, do not pay or even contact the lender. The credit report entry likely will drop off after 7 years. Note that even though the report shows a writeoff, there is a possiblity of still being sued for the balance, probably for five years from the foreclosure sale.
As a Broward County bankruptcy attorney, I can tell you that you are permitted to file bankruptcy at this time. The other responses are correct about the chapter 7 vs chapter 13 issue. You have to be sure the divorce agreement does not require you to pay any of the debt of your ex. You would need to file a chapter 13 to eliminate the indemification or hold harmless agreement. I can be reached at 954-967-9800.
There are several issues involved as to the amount you have to pay unsecured creditors in a chapter 13 plan. Budget issues and the amount of non-exempt property will affect the required payment. However, the amount also depends on the practice of your local trustee. You need to consult a local attorney.
Is this a private student loan? You will need to make a deal with them if this is a private loan. If a federally guaranteed loan, you might be able to qualify for student loan restructing. Also, a chapter 13 bankruptcy can permit you to be in a payment plan only based on your budget, though you would still owe the balance when the chapter 13 plan is completed.
Based on the dollars and values you indicated, bankruptcy will not eliminate the mortgage and equity loan liens on your home. Though bankruptcy would discharge the debt, due to your equity in the home bankruptcy will not help eliminate the second mortgage or equity line.
As a Broward County bankruptcy attorney, we have often eliminated SBA loans. The SBA loan can be eliminated in bankruptcy, subject to objections that creditors can raise such as a loan based on a false financial statement.
As a Broward County Bankruptcy attorney, I can tell you that the case will be dismissed soon after the 14 day deadline. You do have a right to file a motion to extend time which would likely be granted for another 14 days. After dismissal, there is no automatic stay. There are restrictions on filing a new case. You would need to consult an attorney.
You are not responsible for your future wife's debts. However, as indicated in the prior post, your fiancee might want to consult with a bankruptcy attorney now.. If you are married the court will look at your entire household income.