Sell My House To Pay For A Custody Battle? (My Ex Isn't Safe)

Xander shops all the top term insurance companies to save you money. Get started at xander.com. I've got a Custody battle ahead of me. I've recently had to get a lawyer. Um and i've been working the baby steps i'm engaged up to i've got my My starter emergency fund a little more right now. I think i've got about 1300 in that um but With with my debt and with this custody battle on the horizon I'm, just really trying to look for the best way to navigate this Um, obviously I don't have all the money for a lawyer which would put me further into debt. Um, which is not what we want Um, otherwise i'm looking at either bankruptcy or selling my house Okay, and what do you owe on your home? I owe 193 000 And what's it worth a hundred dollars? It's uh work between 299 and 324. Okay So you got somewhere around a hundred thousand dollars in equity and how much debt do you have? um I have roughly 60 000 Okay. All right So simple math says if you sold the house and you paid off all your debt You'd have 40 000 in a war chest to fight with and you'd be a renter Yes That's one quick solution without getting into too many details But that's just balance sheet transfer stuff. Now, what's your uh, what's your income? um, I grow up to about 4600 a month. How many children do you have? I have three total and how old are they? I have a 12 year old Daughter a eight year old son And then um the one that i'm going into custody battle for is my 20 month old daughter Are you trying to get full custody or shared custody? Um, probably full Why? Uh, so her her mother is uh disabled. Um, and then this past weekend Uh had a mental health crisis and ended up in a treatment facility Okay Are you married remarried? No, I I have not to this no, no not to this relationship Okay, so you have um But are are you but the two the other the older two children? Where are they there are basics every family needs food shelter transportation and term life insurance term life is simple If you pass away it pays money to your family so they can keep paying the bills Protecting the people you love is part of winning with money and when you're ready to do that go with who I trust zander insurance Zander shops top companies to find the right coverage at the best price and they've earned my recommendation For nearly 30 years go to zander.com today the older two children. Where are they? So they're from a previous marriage. Um, and I have them 50% of the time Okay, okay, so it's just a 20 month old in question and you're saying the mom is not a safe environment Uh as of right this second. No, okay It just depends on how scorched earth you want to go on this. Um you know, uh What's the nature of your 40 000 or 60 000 dollars worth of debt? Yeah, so I have uh Roughly 26 000 on a parent plus loan that I agreed to take on When I you know was initially going to school, um, i've got 9700 on my student loans. Um, i've got About 4100 on a credit card Um, and then 9200 on a roof um There's part of this and I don't know dave you could probably speak to this a little bit better. But uh If the judge is looking for fitness It might look good for you to say I i've got forty thousand dollars saved I don't have any debt your rent, you know, you're a renter and you live in a really nice place Uh, that could look good. It looks nice and responsible if that's what you're going for Um, and I like that Come on, you got you have the money to fight with because right now I don't know where you get ten thousand dollars to hand an attorney right now Right and that's what you're going to need to get just to get started Yeah, I think I was quoted about four to six thousand dollars Um, if there's really no battle, you know, if she decides to just be agreeable to everything Otherwise i'm looking at upwards of fifteen thousand. Yeah, and it could go on and on and back and forth really continuously Right Okay, so I mean it it's um I don't know where you're going to get ten thousand dollars unless you do this Okay, I don't I mean your income's not that high Uh, there's nothing in this. I mean if you quit paying all the debts, that's fine It's not I mean you quit paying those student loans you catch up Half the half of america's defaulted on their student loan. So you go back and pick that up later Uh, but that's not a cash that doesn't give you the cash flow to come up with ten grand quickly And you don't have anything else to sell or that i've heard of do you have money in savings or investments anywhere? Uh, I mean so my investment I I ended up pausing it. So I've only got like 200 in an ira Um, i've got 1300 in my my savings after this month i'll have closer to 2 000 um But that's I mean that's really about it. I don't have a vehicle. Um, i'm borrowing one currently um So I don't have that I am 34. Are you paying child support on the other two? Uh, no, and because you have 50 correct 20 months old um The only way I know how to answer questions that are super difficult like this one on this show is if I woke up in Your shoes, what would I do? I've never been anywhere near something like this personally So I don't know what I would do. But what I think I would do Is that I would prioritize my financial investments? And my financial advancement my wealth building behind The good of my child good of my child would come first And that would mean i'm going to sell the house And i'm going to go get custody And if it takes forty thousand dollars to do that fine But i'm gonna have forty thousand dollars in my pocket and i'm going to be a hundred percent debt free And i'm going to get an inexpensive clean safe rental for the other two kids to visit you at When you have your custody time and for this 20 month old to be raised And um, then you're starting again To save because you're going to spend money on this 20 month old on legal fees and um and uh To to take care of this baby and that's that's what you know I think that's got to be the priority the baby's got to come first. I mean, it's like all this other stuff is secondary and Um, of course and I don't know I don't see a hole in your story To reach into and get 10 000 bucks and it's going to take you 10 The four to five is that's a that's not going to happen It's going to take it's going to take 10. It's probably going to take 20 Because she's mentally ill 100 expect a problem If if if she wasn't mentally ill might be different then there'd still be a problem because you're trying to take her child But she's mentally ill and so she's crazy And so just expect crazy. I mean you don't expect nothing else So that that's you know what we're doing here. Wow Skip, sorry for you, man. I'm, sorry for that baby most of all um Yeah, take take care of that Um, how do I say this? Nice just say it If you're sleeping with your crazy girlfriend and you make a baby, this is what you get There you go, was that nice yes, that was yeah And if you're dating a girl guys, and she says i'm not crazy a hundred percent that means she's crazy Well, she showed you something. You just didn't want to see it at some point She showed you something or he showed you whoever Gotta take care when people show you who they are I want to I want to love skip and I want to help him but I also want to say out loud for those listening that this is The result of decisions. Yeah bad ones. Yeah And this is where we get to now. We've got but now there's a baby and it's not the baby's fault That's right. And you want to protect them at all costs And so now we've got a man up and take care of the baby for the mistakes that have been made in this process, so Don't date crazy girls and for sure don't sleep with them Hello, and there's ways to prevent babies. I'm just saying don't sleep with them that prevents it That stops it every time it's a hundred percent It's a hundred percent cure Xander is the best place to find term life insurance to protect your family visit xander.com for quotes today