a person who declared bankrupt will that affect other family members' assets....?

Question

I was arguing with frens about the discussion of whether a person who declared bankrupt will affect the rest of family members or not..... what i mean is that will the family members' assets involved into credit of paying debts?

Answer 1

yes. and that is just ur family. like no cousins or aunts. just your spouse and kids if you have any.

Answer 2

When a person declares bankruptcy, the person makes a list of all his/her assets and a list of all his/her liabilities. No other assets or liabilities are considered.