2007-08-26 10:59:23 · 8 answers · asked by Anonymous in Business & Finance ➔ Credit
kris is correct except that part about joint accounts.
You can still file without your Husband on any joint accounts you two may have, but the creditors will go after your Husband for payment on these accounts once your bankruptcy discharges.
2007-08-27 03:29:55 · answer #1 · answered by ? 7 · 0⤊ 0⤋
If you have JOINT debts that you want to declare...then yes he has to file too.
I just filed personal bankruptcy by myself without my spouse. I filed due to excessive credit card debt and it was all in my name and he was only an AUTHORIZED user meaning he was not responsible for the debt. They were not JOINT accounts.
My husband was actually notified via mail about my bankruptcy ( he knew) because he is listed on our car and mortgage that I had to include but am reaffirming....meaning making good on the loan still.
So if you have personal debt that your husband has no ties to...you can file solely and they can not come after him unless you live in a Community Property State which are these
Arizona
California
Idaho
Louisiana
Nevada
New Mexico
Texas
Washington
Wisconsin
then unfortunately they can still try to collect from him. I live in a non community property state so they can not come after my spouse and we have no joint debt except our house and one car.
Filing bankruptcy is not as bad as people make it sound to be. It is an easy process AND it has not hurt my credit like everyone said it would. My FICO score only dropped a bit. It is still very high post bankruptcy.
2007-08-26 11:10:34 · answer #2 · answered by Kris 3 · 1⤊ 0⤋
You can file PERSONAL bankruptcy
The Chapter 7 bankruptcy is applicable if you have no regular sources of income. It works by reducing or clearing off all your debts. You can then make a fresh start without having to worry about having to pay your debts.
Once you file for Chapter 7 bankruptcy, the bankruptcy court assigns a trustee who works as an intermediary between you and the debtors. He oversees everything and checks out if the bankruptcy plan is going as planned.
http://get-out-of-the-debt-trap.com/category/Information-on-Chapter-7-Bankrupt.html
2007-08-27 00:43:59 · answer #3 · answered by Pitty T 2 · 0⤊ 0⤋
No.but you said your husband got good credit he can include you on his account. So he can get a better loan and can pay off your debt.
2007-08-26 11:20:59 · answer #4 · answered by Sanaa 2 · 0⤊ 0⤋
You can file PERSONAL bankruptcy, and if you DO do that, he needs to file married filing seperately on your income taxes more than likely, especially if it's a business.
HOWEVER, if the debts you're filing for were created after marriage, it's probably not going to work out that smothly.
I vote pay your debt back... so that we don't have to (via taxes/higher interest rates/etc)
2007-08-26 11:08:24 · answer #5 · answered by Dan B 3 · 0⤊ 1⤋
Unless you are legally separated ,
You are like a business , joint partners .
When you declare , the mortgage and all the joint accounts will come into question .
You would have to do it together .
Go to debt counseling to get your situation under control .
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2007-08-26 11:14:20 · answer #6 · answered by kate 7 · 0⤊ 1⤋
Are you joint account holders on the things you want to file on? If so, it will affect both of you.
2007-08-26 11:07:08 · answer #7 · answered by mister_galager 5 · 0⤊ 0⤋
The key is your unity. If legally married, what you do impacts him and what he does impacts you.
2007-08-26 11:44:48 · answer #8 · answered by Alterfemego 7 · 0⤊ 1⤋