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If my wife filed for personal bankruptcy are you responsible for her debt?
Wiki User
∙ 14y ago
No you are not. When one spouse and not the other files for bankruptcy they are only doing so with regard to their personal debt. 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.
Wiki User
∙ 14y ago
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You are a cosigner and the debtor has filed chapter 13 what happens to your obligation?
You are protected during the term of his bankruptcy. If he does not resolve the debt under it, you will remain responsible.
Does a personal bankruptcy eliminate a personal guaranty on business debt?
Yes. I filed for that reason alone. I signed a lease for a business. I was told I had to sign a personal guarantee. I had to file a personal BK because of it. When I left the lease they tried to sue the business....but the business had nothing, so they came after me because I signed a personal guarantee. I filed a Bankruptcy and it was discharged.
Has Monavie filed for bankruptcy?
No Monavie has absolutely zero debt
Are all debts automatically discharge in chapter 7 bankruptcy for a bankruptcy that occurred in 1988?
If a debt was listed on a Bankruptcy that you filed and the Bankruptcy went through then that debt is permanently discharged with a Chapter 7.
What happens to a judgment lien in a bankruptcy?
If the bankruptcy is discharged you are no longer responsible for the debt.
Can a judgment be put on your credit if the debt was part of the bankruptcy?
Not if the debt was discharged in the bankruptcy. If the judgment was on the credit report before the bankruptcy was filed and/or was discharged in the bankruptcy, the entry will still remain on the CR for seven years.
Are you liable for the remainder of the loan if the car is surrendered voluntarily in Texas?
Yes, you are responsible for the balance not recovered through an auction, certains fees the lender charges which include the tow. If bankruptcy if filed with the amount of the debt owed, then the debt is discharged and you are not responsible for any money owed. Since bankruptcy is Federal, it applies to All states.
Are you liable for your credit card debt if your husband filed bankruptcy or are you covered under community property debt?
If the couple resided in a community property state both spouse's would have needed to file joint bankruptcy for the debt to be totally discharged. If one spouse did not file, it is quite possible the creditor will hold that person responsible for the debt owed.
Are you responsible for any end of lease payments at the end of a lease during which you filed for bankruptcy since no money can be demanded from you?
If the matter in question was included in the bankruptcy discharge, you may not have to pay it. If it was left out, or the property owner was allowed to opt out of the bankruptcy discharge the debt is collectable.
Is the debt from a personal lawsuit removed when you file for bankruptcy?
no
Can an individual file for bankruptcy on his small business if he has recently filed Chapter 13 on his personal debt?
you can if you was out of 13 but if your not if you had this dept when you file 13 you can get your lawer to add it in just talk to your lawer.
When can bankruptcy be filed?
If you or your business has incurred a substantial amount of financial debt due to circumstances that were out of your control you may be eligible to file bankruptcy.
