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I am nearing retirement and have many credit card bills to pay which i cannot afford. is bankruptcy an answer and will it affect my partner if it is personal bankruptcy?
Wiki User
∙ 13y ago
You should definitely discuss bankruptcy with an experienced attorney. It will affect your partner only if you have joint debts that wll have to be listed in the bankruptcy. S/he will have to pay the debt.
Wiki User
∙ 13y ago
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What has the author Ralph C Anzivino written?
Ralph C. Anzivino has written: 'Partner and Partnership Bankruptcy (Bankruptcy Practice Library)' 'Partner and Partnership Bankruptcy' -- subject(s): Bankruptcy, Partnership 'Partner and Partnership Bankruptcy, 1994 Cumulative Supplement No 1 (Bankruptcy Practice Library)'
Will your credit rating be affected by your partner filing bankruptcy?
If your partner files for bankruptcy and you don't then the bankruptcy will not appear on your credit report. But you will be partly responsible for before bankruptcy filing. Generally filing bankruptcy will affect the credit rating of the individual who filed it.
How do you file chapter 7 together or separate if you are separated?
When you file a mutual bankruptcy, you and your partner file a single set of bankruptcy papers with the court. In your bankruptcy appeal, you release all property, debt, income, and expenses you have between both you and your partner.
Will filing chapter 13 bankruptcy affect a recent joint bank account?
If you have filed for bankruptcy as an individual, rather than as a couple, then you are only filing on your personal debts. Following this logic, only those funds that are yours (so your share of the bank account, if that is possible) will be "up for grabs." Your bankruptcy status should not have an effect on your partner.
Joint mortgage with your partner who is being served with a bankruptcy petition where do you stand with the house?
He's being served? You mean his creditors are forcing him into an involuntary personal bankruptcy? That's a very uncommon thing! You have good reason to be concerned...and an excellent reason to get specific legal advice to protect your interests.
Can your business partner's bankruptcy force you to sell your shared business?
Probably yes.
If a partner has authority to act and the partnership is bound by the act each partner has unlimited personal liability for the obligation?
If a partner has authority to act and the partnership is bound by the act, each partner has unlimited personal liability for the obligation
Can partner deposit personal cheque in firms account?
no
What is meant by unlimited liability of a partner?
it means that the personal assets of the partner may be used for payment of debts..
If an ex-partner has told a bankruptcy judge that you embezzled money will the court simply buy this accusation at face value?
That type of allegaton might be subject to a criminal investigation. However, the BK court has no jurisdiction over such a matter. If the partner was allegeding that a debt was owed him due to the embezzlement, the Bankruptcy Court would certainly have jurisdiction to hold the debt is non-dischargeable as arising from fraud. Fraudulently obtained debt is not dischargeable in Bankruptcy. NO. The Bankruptcy court would not "buy the accusation at face value." He would hear your argument and the ex-partner's and would rule on the side of the person who prevailed by a preponderence of the evidence. The burden to prove fraud would be on the ex-partner. So if it was 50-50, you should win.
I am the sole inheritor of real and personal property including retirement benefits in my boyfriend's will Will the will be honored as written Are there potential problems for me?
If the Will was properly drawn up and witnessed then the executor will have to follow the instructions in the Will regarding disposal of the deceased property (estate). However, there may be a problem regarding the retirement benefits because it is usual for retirement pensions to be paid only to the diseased's widow or legal civil partner (the pension is not really part of the estate) - you may need to get an attorney (lawyers) advice on this.
What name is given to an unmarried man with a personal partner and the partner died even though they have a child together?
A bachelor
