there would probably be a loop-hole for that so yes.
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.
Yes the spouse who denies that she or he held a property at the time of divorce to avoid more payment is guilty of perjury.
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).
It will only affect the non-filing spouse if the couple apply for some type of joint credit, such as a home mortgage. It will not affect the new spouse's credit report/score.
It sounds like your name was on the deed, you mortgaged the property then you conveyed it to your spouse thinking to effect a change in ownership free of the mortgage. You can't do that.A conveyance to defraud your creditor will be "undone" by the court. Also, if you did transfer ownership subsequent to granting a mortgage the transfer is subject to that mortgage. Your bankruptcy won't simply wipe out your mortgage and make the property free and clear since you transferred it to your spouse. In addition, the bank can demand payment in full under the "due on transfer" clause in the mortgage. You have a tangled web and you should consult with an attorney who specializes in bankruptcy.It sounds like your name was on the deed, you mortgaged the property then you conveyed it to your spouse thinking to effect a change in ownership free of the mortgage. You can't do that.A conveyance to defraud your creditor will be "undone" by the court. Also, if you did transfer ownership subsequent to granting a mortgage the transfer is subject to that mortgage. Your bankruptcy won't simply wipe out your mortgage and make the property free and clear since you transferred it to your spouse. In addition, the bank can demand payment in full under the "due on transfer" clause in the mortgage. You have a tangled web and you should consult with an attorney who specializes in bankruptcy.It sounds like your name was on the deed, you mortgaged the property then you conveyed it to your spouse thinking to effect a change in ownership free of the mortgage. You can't do that.A conveyance to defraud your creditor will be "undone" by the court. Also, if you did transfer ownership subsequent to granting a mortgage the transfer is subject to that mortgage. Your bankruptcy won't simply wipe out your mortgage and make the property free and clear since you transferred it to your spouse. In addition, the bank can demand payment in full under the "due on transfer" clause in the mortgage. You have a tangled web and you should consult with an attorney who specializes in bankruptcy.It sounds like your name was on the deed, you mortgaged the property then you conveyed it to your spouse thinking to effect a change in ownership free of the mortgage. You can't do that.A conveyance to defraud your creditor will be "undone" by the court. Also, if you did transfer ownership subsequent to granting a mortgage the transfer is subject to that mortgage. Your bankruptcy won't simply wipe out your mortgage and make the property free and clear since you transferred it to your spouse. In addition, the bank can demand payment in full under the "due on transfer" clause in the mortgage. You have a tangled web and you should consult with an attorney who specializes in bankruptcy.
No. When one spouse files for bankruptcy and the other spouse does not, they are only filing for their own personal debts and not those of the spouse. 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.
Yes, bankruptcy does not effect spousal support or child support.
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.
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.
One spouse can file bankruptcy separately and both are held responsible.
Yes the spouse who denies that she or he held a property at the time of divorce to avoid more payment is guilty of perjury.
No, debts that are incurred before a marriage do not become the responsibility of the new spouse.
Thats a decision YOU have to make. Please consider the effects on your credit for each choice. Having to make that decision is a result of not considering it b4 you cosigned. Good Luck
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).
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.
Yes, you can.
It will only affect the non-filing spouse if the couple apply for some type of joint credit, such as a home mortgage. It will not affect the new spouse's credit report/score.