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The co-debtor stay is applicable in chapter 13.

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โˆ™ 2008-08-18 02:18:41
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Q: Does the bankruptcy co-debtor stay apply to a joint debtor?
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Related questions

If your husband files bankruptcy and you have no joint accounts will your credit be affected?

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. It helps that you do not have any joint accounts but if you have joint debts then the debt will remain with you and not be discharged with your husbands bankruptcy.


If your soon to be ex-spouse files for bankruptcy and there are joint accounts can you be included as a debtor and clear the joint debts?

Yes. If joint debts are an issue, it is beneficial for both parties to enter into a BK filing. If not the one who is not a party to the bankruptcy will be liable for those debts.


Do both parties on a joint mortgage have to file bankruptcy on a joint mortgage?

No, both parties on a joint mortgage do not need to file bankruptcy. They can file a joint bankruptcy or a single bankruptcy.


Can you and your domestic partner file bankruptcy together?

No. Legal spouses can file for joint bankruptcy, but this does not apply to domestic partners or partners in a civil union. Legally married same-sex couples can file for joint bankruptcy effective June 26, 2013.


If you are currently in bankruptcy with your husband can you come out of bankruptcy and your husband stay in?

The joint Bk would have to be voluntarily dismissed by both parties and then refiled as a single bankruptcy after the required waiting limit for filing is reached. When married couples reside in CP states it is best that they file a joint BK to allow full protection for both. In non CP states where only one spouse is the debtor the best choice is usually for only the debtor spouse to file.


Ex spouse filed for bankruptcy and now the lending institution refuses to send a bill out. Is this legal?

Assuming this debt is still a joint debt, the lender should send the non-filing debtor the monthly statements. The automatic stay does not apply to the non-filing debtor. You may need to get a lawyer to get them to stop being stupid. Their billing program may not be set up to separate the notices, but that should not be the debtor's problem.


If my wife filed for personal bankruptcy are you responsible for her debt?

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.


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.


Are assets of non-filing spouse considered 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.


Do you have to be married to file joint chapter 7?

NO, you can have a co-debtor.


Are you responsible for your parent debt?

Only if you are a named joint debtor.


What is jointly debtor?

When more than one person can be held responsible for repayment of a debt then each is a joint debtor.

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