marriage and bankruptcy
if my husband files for bankruptcy, will this affect me, i have not signed on any of his debts with him, they are soley his, well it occured before we got married, will this affect me if i try to buy a house.
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Read More Answered By: Scott R. Jay |
Re: marriage and bankruptcy While your husband's filing for bankruptcy will not affect you directly, it will indirectly affect you greatly. You questioned the purchase of a house and this is where the affects will be felt most severly. Generally, the credit of both spouses is checked and used in order to qualify for a mortgage. If your husband has filed for bankruptcy, you will have to qualify for a mortgage based on your credit and income alone. This often proves very difficult to accomplish.
It is important to make sure that you are not listed as jointly responsible on any of the obligations which your husband lists in his Petition for Bankruptcy. If so, although he will be discharged in bankruptcy, your obligation would still remain.
This is a serious legal situation and you are advised to meet with an attorney who can advise you how to best protect yourself.
Scott R. Jay, Esq. 305-249-8000 |
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