Can I protect myself somehow? He bought property and now in a huge amount of debt and will probably file bankruptcy. Can we file for a legal separation and declare it all his responsibility?
2006-11-27 11:48:03 · 9 answers · asked by Tania M 1 in Business & Finance ➔ Personal Finance
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RE My husband is filing bankruptcy for debt 'he' acquired during our marriage. What does this mean 4 me?
Can I protect myself somehow? He bought property and now in a huge amount of debt and will probably file bankruptcy. Can we file for a legal separation and declare it all his responsibility?
2014-10-03 01:42:21 · answer #1 · answered by Anonymous · 0⤊ 0⤋
it depends on the state you live in. BUT what that means is the property is part of martial property and you will be held accountable as well. If he bought the property in just his name than as long as he does not put anything that you and he purchased together it will not affect you. HOWEVER WHEN YOU DECLARE BANKRUPTCY YOU HAVE TO INCLUDE ALL OUTSTANDING DEBT WHICH WILL MEAN THAT BOTH OF YOU WILL BE INCLUDED IN THE BANKRUPTCY. NO YOU CAN NOT FILE FOR A LEGAL SEPARATION AND GET OUT OF IT. YOU HAVE TO BE DIVORCED THEN HE CAN DECLARE BANKRUPTCY AND IT WILL NOT AFFECT YOU.
Marriage is a 50 50 proposition which includes all the good, bad or other wise.
2006-11-27 12:50:41 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Federal bankruptcy laws do NOT require the spouse to file along with the other. Your only obligation in this is to any joint accounts you have or joint property, like a house.
Go with him to see the bankruptcy attorney and insist that this is structured to allow you to retain your separate credit. The attorney may ask you to move some joint debt over to your individual name to protect your credit. Do what you have to.
2006-11-27 12:04:44 · answer #3 · answered by upside down 4 · 0⤊ 0⤋
Get an attorney NOW. Believe me, I wished I would have. More than likely, you will also be responsible for any "joint" accounts. My ex and I bought a house while we were married. When we split up, I moved out of the house because I could not afford the house payments by myself. My ex remained in the house. I tried to get my ex to either sell the house or re-finance the home in his name only, because he is irresponsible with money, and I knew that he would not make the payments once I had moved out. He refused to do either. I did not have the money at the time to hire an attorney to force him to do something with the house. BIGGEST mistake I ever made - I wish I would have borrowed the money to hire an attorney. Four months after I moved out, the house went into foreclosure and he lost the home. Now I have a big fat foreclosure on my credit report because it was a joint account. That was almost 6 years ago, and the foreclosure is still on my credit report. My advice to you is to get an attorney ASAP - even if you have to borrow the money or make payments arrangements with the attorney. Best of luck to you.
2006-11-27 12:16:50 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Actually, he cannot declare bankruptcy on anything that is in both of your names, unless you sign the bankruptcy petition. If you do not do that...then he cannot list it on his bankruptcy. His petition, if everything on it just has his debt...without your name on it anywhere...then the bankruptcy will not affect you at all.
Do not sign anything pertaining to his bankruptcy and you will be fine.
2006-11-27 12:10:10 · answer #5 · answered by tjjone 5 · 0⤊ 0⤋
That feels like a miles less costly answer. For him to make a tenet to get decrease back jointly merely as long as you enable him to maintain his canines understanding you're allergic to them. He feels like he's utilising you for intercourse. whether you have been joking approximately dozing in separate rooms after intercourse, it nonetheless is far less costly for him too say confident to that. He could be discussing with you on why you 2 have become decrease back jointly and how issues would be distinctive this time. The canines shouldn't additionally be in the image. It additionally sounds strange whilst he suggested he exchange into "dozing with the canines." lol
2016-10-04 10:54:04 · answer #6 · answered by ? 4 · 0⤊ 0⤋
get a lawer now, normally his debt is your debt, because he aquired the debt during the marriage, legal separation papers needs to state that that debt is his and his alone is his responsability. james
2006-11-27 11:53:04 · answer #7 · answered by James R 1 · 0⤊ 0⤋
don't know but talk to a lawyer
2006-11-27 12:41:18 · answer #8 · answered by osunumberonefan 5 · 0⤊ 0⤋