Am I Responsible for the Debts of my Spouse?

As we realised that the maths of our finances were no longer adding up, we started to argue. Please reference the Terms of Use and the Supplemental Terms for specific information related to your state.

In that case the court made the following observation: What happens to our joint accounts if my spouse files for Chapter 7 Bankruptcy? Image courtesy of Flickr and Robert Kintner.

Bankrupt women pay the price of high living

If your partner is made bankrupt, they'll no longer be liable for any debts that you have jointly with them. If your landlord has already obtained an order of possession from a court, the bankruptcy may not prevent the landlord from continuing the eviction process. As lawmakers explore regulating the payday loan industry, one man who played a major role in bringing payday loans to Michigan speaks out about his experience with the payday loan empire that he operated.

Then you should proceed depending on WHY he had to file for bankruptcy.

Bankrupt women pay the price of high living Daily Mail Online

If your partner took out joint debts without your knowledge, you may be able to dispute your liability for these. Top links Making a small claim Help for victims of rape and sexual violence. Need a lawyer? But even if you file alone, your bankruptcy can have consequences for your spouse.

March 10, at 8: Pensioner, 66, woken at 1.

He owes money on a credit card on which he and Marie are cosigners. It is a joint credit card unlike one in which a person designates another as an authorized user. If you expect to receive property soon, it may be best to file a bankruptcy case before you get it.

Bankruptcy and Marriage: Should You Marry Someone Who Went Bankrupt?

The automatic stay will also stop garnishment of wages or a bank account , but will not usually work to get back wages or bank funds that were turned over to the creditor before the bankruptcy was filed. This is because when you take out a joint credit agreement, you both agree to be responsible for the full amount of the debt. In this case, however, it may be better to apply for a mortgage on your own.

The Codebtor Stay in Chapter 13 Bankruptcy If you have joint obligations with your spouse, filing for Chapter 13 bankruptcy can protect your spouse from those creditors with the codebtor stay.

The legalities were explained and my papers presented before a judge.

Bankruptcy shame saved me and my children: how I coped - Telegraph

I married a single man who filed for bankruptcy but was too lazy to actually see it through. Leave a Reply Cancel reply. Radio 2 presenter Reverend Ruth Scott dies of cancer aged Example 4: Stannah Stairlifts chief's wife killed a motorcyclist To learn more about what to consider before filing for bankruptcy, see our topic area on Should I File for Bankruptcy?

With hindsight I should have discussed repayment with my ex in-laws but the relationship was strained and I was exhausted. Start here. Top links Housing benefit Making welfare work locally - Best practice research. For more detailed information on what happens to joint property in bankruptcy, see How Is Joint Property Treated in Bankruptcy?

Bankruptcy and Marriage: Should You Marry Someone Who Went Bankrupt?

March 1, at 6: Pull up your dresses': If he still has significant debt post-bankruptcy, having this conversation with a lawyer is definitely worth your while. In a community property state , most property acquired during the marriage except for gifts or inheritance is owned jointly by both spouses. I now had no choice but to declare myself bankrupt. Randa, there is no additional charge or fee for a joint petition.

My credit rating, as an ex-bankrupt, prevents me from borrowing money or even owning a credit card.