Legal Question in Bankruptcy in Indiana
Married, but want to file individually
I have been married for 35+ years, but have credit card debt in my name. My husband is retired now, and has a 401k. Can I file individually on my debts, without him being affected? Will they take his 401k or our house, which is in both our names?
Asked on 6/29/08, 11:57 am
1 Answer from Attorneys
Martin Hancock
MARTIN HANCOCK
Re: Married, but want to file individually
Yes, you can file seperately. However, you are still treated as one entity for bankruptcy purposes and he will have to disclose his financials as well. Luckily, 401ks are completely exempt. Indiana provides a $15k homestead exemption, so as long as you have less than $15k in equity in your home you are fine.
Answered on 6/29/08, 12:13 pm
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