My spouse, who I am in the process of getting a divorce from, is considering filing for bankruptcy. How will this affect my credit? If he files does that mean I am bankrupt also or is there a way for me not to be bankrupt? I don't want to lose my house!!!
2007-03-11 12:49:30 · 9 answers · asked by Naked Diver 69 1 in Family & Relationships ➔ Marriage & Divorce
he should wait until the divorce is final, that way it does not affect you at all.
2007-03-11 12:52:44 · answer #1 · answered by ladybug 5 · 1⤊ 0⤋
If the couple have already filed the separation papers, then one party can file for bankruptcy without affecting the other. If such separation has not been legally done, then the finance of the couple is still tied together like you are still married, and one party cannot file for bankruptcy without the consent of the other
2007-03-11 19:57:21 · answer #2 · answered by Sir Richard 5 · 0⤊ 0⤋
It should have no bearing on your credit. However, you may find that you were co-obligors with your soon to be ex on one or more debt and this might trigger some problems for you. Also, if you have claims against him for domestic support obligations like child support or alimony, bankruptcy won't discharge them. And his bankruptcy should have no bearing on his obligations to you under any property settlements.
You may have to refinance your house if he is jointly obligated on the mortgage but not if it's in your own name and if you are up to date on your payments.
I assume that you otherwise have good credit and are up to date with all your obligations.
2007-03-12 00:43:58 · answer #3 · answered by DLeibowitz 5 · 0⤊ 0⤋
Get legally separated and file divorce before bankruptcy.
2007-03-11 20:37:05 · answer #4 · answered by Free-Lance 5 · 0⤊ 0⤋
IS the house in both of your names? If it is this may hurt you and you may lose the house BUT if the house is only in your name you should not have a problem. This may affect your credit if you have joint credit card accounts ... Go to http://www.moneymatters.org and contact and email them for help in this matter... They will have alot of advice and help to offer you .
2007-03-11 20:28:34 · answer #5 · answered by Lady Hewitt 6 · 0⤊ 0⤋
Make sure your atty. knows whats going on. you may have to make sure all your creditors have a copy of your divorce papers
2007-03-11 19:53:31 · answer #6 · answered by walker9842 4 · 0⤊ 0⤋
The same thing if you own anything..what is yours is his and what is his is his too. Yes, you would.
2007-03-11 19:53:45 · answer #7 · answered by Anonymous · 0⤊ 0⤋
ask a lawyer
2007-03-15 19:34:54 · answer #8 · answered by sweetgranny06 7 · 0⤊ 0⤋
it rips your life apart...
2007-03-11 22:02:26 · answer #9 · answered by Lydia 7 · 0⤊ 0⤋