0
Can one spouse file for bankruptcy in a community property state even if the debts are soley held?
Prend1
Yes, but the non-filing spouse would then be totally responsible to repay all of the debts that were incurred during the marriage. Married couples residing in CP states are presumed by law to own all assets equally and owe all debts equally, regardless of which spouse opened an account, signed a contract, and so forth. The one state where CP laws are slightly different in how debt responsibility is applied to a non-debtor spouse is Wisconsin.
Wiki User
∙ 18y ago
Add your answer:
Earn +20 pts
Are you responsible for your spouse's debts?
yes * Only if the couple reside in a community property state and the debt is incurred during the marriage. All CP states allow a spouse to use the "innocent spousal" defense concerning marital debts if the spouse was not aware of the debt made or had no control over the matter. Texas and Wisconsin are not "true" community property states when it relates to marital debts solely incurred. In all other states sole debts belong to the spouse who incurred them.
Can a man file bankruptcy without his wife's involvement and if he does how will she be affected?
A husband (or wife) may file for bankruptcy separate from his or her spouse. Technically speaking, this should have no effect on the other spouse as they are filing bankruptcy for their separate debts and you will not be held responsible for their debts nor will it be reflected on your credit report, etc. It is important to note that those debts you held jointly will remain with you (the spouse that did not file for bankruptcy).
Can only one spouse file bankruptcy when the other one owns the cars and house?
In general, the filing of bankruptcy by one spouse will not affect the other spouse's financial situation. A debt is created by contract between a debtor and a creditor - each debtor must sign the contract to be liable for payment. Therefore, the bankruptcy of one spouse does not cause the other to become bankrupt. Debts where spouses are joint and severally liable for payment will remain with the spouse who has not filed for bankruptcy. Under Chapter 7 bankruptcy, where one spouse's debts are wiped clean, the creditor can go after the other spouse. However, a major advantage of Chapter 13 bankruptcy, where the debtor plans to re-pay her debts, is that the creditor will leave the co-debtor alone, as long as bankruptcy plan payments are timely deposited.
What does the surviving spouse do about the deceased spouse's credit card debt in Florida?
California is a community property state, the debts of the deceased should be included in the probate procedure. Usually in California the surviving spouse is responsible for all debts incurred during the marriage even though he or she was not the named account holder.
Is a spouse financially responsible for debts incurred after the marriage?
Yes and no. If you live in a community property state then assets you may share with your spouse could be come entangled with their debts. Generally speaking, if your spouse does not pay his bills I would avoid a joint bank account or other forms of shared ownership of assets.
If a spouse files for bankruptcy in a community property state and debts are discharged can the other spouse be held responsible for the discharged amounts?
Maybe; see a lawyer.
Can a woman file for bankruptcy after she is married and not include her spouse who went bankrupt 4 years ago?
Either spouse may file a separate bankruptcy. However, if they are joint debts the non-filing spouse will be responsible for repayment. If the spouse is the sole debtor the non-filing spouse might still be responsible if they reside in a community property state.
If your wife does not have an income can you still declare bankruptcy?
Certainly. Your spouse does not have to be part of the BK filing. However if there are joint debts, or if you live in a community property state the best option is for both to file.
IS a spouse responsible for their spouses debt in New York?
In New York, spouses are generally not responsible for each other's separate debts. However, debts incurred during the marriage may be considered marital debt, and both spouses may be responsible for that debt, regardless of which spouse incurred it.
If your spouse dies and your house is in your name via community property change are you then responsible for debts incurred by the deceased spouse?
I am not certain what you mean by "community property change", unless it pertains to a divorce decree. If you live in a community property state, and the debts were incurred while you are married. The spouse is indeed responsible for those debts. In non-community property states the person who contracted the debt, is the only person responsible. Therefore, the debt(s) usually "die" with the deceased person. There are exceptions, however, some states have laws which make the spouse responsible if the debts are defined as "necessities". Such as medical expenses, food, shelter, etc.
If you're filing bankruptcy based on debts incurred before your marriage to your current spouse do you have to make your current spouse party to your bankruptcy?
No, debts that are incurred before a marriage do not become the responsibility of the new spouse.
Bankruptcy if married can one spouse file bankruptcy independently from the other Is the one spouse then held responsible for the first spouse's debts if bankruptcy Is filed?
One spouse can file bankruptcy separately and both are held responsible.
Are debts acquired after marriage by only one spouse be considered community property?
It varies from state to state, depending on if you live in a "community property" state. Lets assume that you do for the sake of this question. Debts acquired after marriage by either spouse are considered owed by both. In the event of divorce its this "community property" that often is the source of much dispute, not only the assets but the debts. Like who gets the house, who pays the credit cards ect.. Debts by one spouse may not appear on both persons credit report as I have seen personally, however if your spouse defaults on a debt its possible a collector will come after you and if they deem it necessary may get a judgment and garnish your wages if the spouse isn't working. They will go after the spouse first as that is who owes them. If you are unsure if you live in a community property state i would google " is ___ a community property state?" and see if you can get a specific answer.
Is the surviving spouse responsible for his deceased wife's debts in New York?
No, New York is not a community property state.
Are you responsible for your spouse's debts?
yes * Only if the couple reside in a community property state and the debt is incurred during the marriage. All CP states allow a spouse to use the "innocent spousal" defense concerning marital debts if the spouse was not aware of the debt made or had no control over the matter. Texas and Wisconsin are not "true" community property states when it relates to marital debts solely incurred. In all other states sole debts belong to the spouse who incurred them.
Is my deceased spouse's debt my responsibility?
That depends on the nature of the debt and the laws in your jurisdiction. In a separate property state a person's estate is responsible for paying their debts. However, jointly owned property is usually protected from the debts of one spouse. Debts by one spouse need to be examined, for example, to determine if the goods or services benefitted both spouses. In a community property state the surviving spouse is generally responsible since marital property and debts are shared. You need to consult with an attorney in your jurisdiction.
If you die in Tennessee with credit card debt in your name will your spouse be obligated to repay the debt?
No, Tennessee is not a community property state. Married couples living in non community property states are not responsible for debts incurred solely by either spouse.
