Legal Question in Bankruptcy in Texas

In Texas is it possible for one spouse to claim bankruptcy and the other to not file? Or are all debts joint if you are married?

I ask because my husband entered into a stock agreement in January of 2012. He agreed to make payments to the previous business owner for a period of three years, as well as to make payments on a $53,000 loan the owners had in their name. In November of 2012 my husband took ill with a brain tumor and we've tried to keep the company going. We're at the point that it's now costing us money to just keep the business going. We can not go any further into the red.

We've contacted a referral service in Central Texas to help us find a business lawyer. We're not sure of our obligations, and if we'll have to file bankruptcy. Our main concern is if he entered into this agreement, and I had no part of the agreement can they sue us to the point that we may lose our home? I had no part of the agreement and I am on our mortgage note.

Thanks for any input you can provide.

Asked on 5/30/13, 7:28 pm

1 Answer from Attorneys

Mark Dunn Mark D. Dunn
0 users found helpful
0 attorneys agreed

Yes, a married person can file for bankruptcy without the other spouse. It becomes complicated because it involves questions of joint debts and community property, but it can be done. I've done this type of bankruptcy myself.

You almost certainly will not "lose your home" because of your husband's business dealings.

Read more
5/31/13, 6:58 am

Related Questions & Answers

More Bankruptcy Law questions and answers in Texas

Looking for something else?

Get Free Legal Advice

88122 active attorneys ready to answer your legal questions today.

Bankruptcy Law Legal Forms

Browse and download our attorney-prepared and up-to-date legal forms from $4.99

Find a Legal Form

Featured Attorneys

Anthony RoachLaw Office of Anthony A. RoachChatsworth, CA
Terry A. NelsonNelson & LawlessRiverside, San Bernardino, CA
Timothy McCormickLibris Solutions - Dispute Resolution ServicesSan Francisco, CA
Find An Attorney

Are you an Attorney?

Earn additional revenue and grow your business. Join LawGuru Now