When you declare in bankruptcy could your wife's credit history be affected?
Is it only personal or affect the whole family?
2006-06-27 03:19:53 · 9 answers · asked by Anonymous in Business & Finance ➔ Credit
yes it will
2006-06-27 03:23:08 · answer #1 · answered by Anonymous · 0⤊ 1⤋
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RE Could my wife be affected if i declare bankruptcy?
When you declare in bankruptcy could your wife's credit history be affected?
Is it only personal or affect the whole family?
2014-10-08 16:10:40 · answer #2 · answered by ? 1 · 0⤊ 0⤋
If you file for bankruptcy, it does NOT effect your wife's credit history. Each person has their own history.
But it does effect your family. Any joint accounts she will be responsible to pay. Any property liquidated she loses also.
I would need a lot more information about your situation before we know what effect there will be. What property do you own? How much income? How much debt? What state do you live in?
2006-06-27 12:51:56 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Yes, your wife's credit history will be affected, too, since her name was probably on the accounts as well.
What does your bankruptcy lawyer say?
2006-06-27 10:24:00 · answer #4 · answered by ps2754 5 · 0⤊ 0⤋
Are any of the debts (that you will include in your BK) joint with your wife? They will go after her for the money. Also, if you live in a community property state, they will go after her for all the accounts.
In your petition for BK, you will have to include her income. This could affect whether you can file chapter 7 or chapter 13.
2006-06-30 12:40:07 · answer #5 · answered by Mama Pastafarian 7 · 0⤊ 0⤋
Yes. anything she is a signer on will become her complete responsibility. Not to mention the stress it will put on your family. Check out Dave Ramsey, he is a financial counselor and has his own website. His radio show helps with these issues.
2006-06-27 10:43:05 · answer #6 · answered by mkostelnik@sbcglobal.net 2 · 0⤊ 0⤋
In Minnesota, I believe yes. Esp. on all joint accounts. (sorry, I know this from experience.) 8 years ago and counting. Finally my credit is back.
2006-06-27 10:24:13 · answer #7 · answered by BL1957 3 · 0⤊ 0⤋
I asume your wife has signed for these loans too
therefore she will still be responsible for her half of the bills and if she don't pay she will have a poor rating
2006-06-27 21:22:28 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Think your self, you only come with the right answer(s).
2006-06-27 10:24:25 · answer #9 · answered by Man of Joy 1 · 0⤊ 0⤋