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The only impact it might have would be relating to future joint financial transactions; for example applying for a mortgage or vehicle loan.

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โˆ™ 2006-03-15 15:55:13
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Q: If you get married during bankruptcy will it affect your new spouse?
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If you are about to get married and you are filing Chapter 7 bankruptcy will this bankruptcy affect your spouse in any way after the marriage?

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.


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.


One spouse file bankruptcy?

Business bankruptcy? The other spouse will probably not be liable unless their name appears as an officer of the company. Personal bankruptcy? Yes, it will probably affect the other spouse.


If you filed for bankruptcy four years ago while previously married and you remarry how will it affect your new spouse's credit?

It will have no affect on her credit. Only the person(s) who are a party to a bankruptcy have it noted on any crediting reportage.


If you get married how will your credit reports and bankruptcy affect your future spouse's perfect credit?

Your credit follows you individually. If you have joint accounts then they appear on both of your credit reports.


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.


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.


Can a spouse be reimbursed for debts that were discharged in bankruptcy as part of the dissolution of marriage terms?

Not if the debts were actually discharged in the bankruptcy. In regards to the cost of the bankruptcy if the couple were still legally married then that too is not recoverable.


Can a spouce file for bk?

Yes, one spouse (rather than the couple) can file for bankruptcy when they have significant individual debts. Generally, this action by one spouse will not negatively affect the financial situation of the other spouse, nor will they be responsible for the debts of their spouse. It is important to note that those debts in which the couple is jointly and severally liable for will remain with the spouse that did not file for bankruptcy.


What happens when the ex spouse files bankruptcy after you divorce?

For any joint debts, the creditor will come after the spouse who has not filed bankruptcy.


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.


What can a wife do if she wants to file for bankruptcy but doesn't want her husband involved in any way?

Married couples do not have to file joint bankruptcy. However, this does not neccesarily mean that all joint marital property will be exempted from bankruptcy proceedings. Also, married couples who live in community property states are usually considered equally responsible for debts incurred during the marriage. That being the case, the non filing spouse might still be held responsible for debts that were discharged in the filing spouse's BK. The best option is to discuss the matter with a qualified bankruptcy attorney before proceeding.


Can you file bankruptcy with your ex spouse?

No.


My spouse is filing bankruptcy do i have to?

no you do not have to file.


How does filing for personal bankruptcy affect a former spouse's credit rating?

The only way it could possibly affect the former spouse's credit is if you are including debt in your BK that the spouse may be jointly obligated on; regardless of who was responsible for that debt in the divorce decree. It the spouse was not a co-signer on any of the debts you file BK on, then they won't be affected.


Should a couple divorce if only one spouse files bankruptcy?

In most states filing for divorce is not going to get the other spouse out of helping to pay bankruptcy debts. Many states have a communal property law that states both spouses are liable for debts, both during marriage and during a divorce.


Does bankruptcy affect both spouses in Minnesota?

Bankruptcy has some effect on both spouses regardless of where they live. Unless the two spouses have taken great care to ensure that their assets are entirely separated from one another, then there is likely to be some part where the spouse will be financially affected by a bankruptcy. For details you should contact a Minnesota bankruptcy lawyer (see related links). They will be able to provide specific information about how a spouse could be affected by bankruptcy.


How long after getting married do you have to wait to file jointly for bankruptcy?

My spouse and I filed 3 weeks after our marriage. I was told that it could be done immediatly.


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.


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.


Can a one spouse file bankruptcy without the other when you are married?

Yes a spouse can file without the other...however..you must still report the other spouse's income on the paperwork including the means test (which determines if you can file under Chapter 7)


Can you file bankruptcy with your ex-spouse after a divorce?

No.


During an active chapter 13 bankruptcy if the spouse counter sues for divorce do they also need to obtain a relief from stay from the bankruptcy court for the divorce?

If they are seeking relief with respect to property, then yes.


How can a home be protected when it is jointly owned by a married couple and only one spouse files for bankruptcy?

It depends upon how the property is titled and the homestead exemption allowed. In community property states the home of a married couple will become a part of the bankruptcy if it was acquired during the marriage and if it is not covered by the homestead exemption. In non CP non TBE states a home is not at risk as long as it is protected by the homestead exemption and only one spouse is the debtor/filer. In states that allow property to be held as TBE by married couples the home would not be subject to BK action regardless of the homestead exemption amount when only one spouse is the debtor/filer. FYI, it is advisable for married couples living in community property states to file a bankruptcy jointly even if only one spouse has incurred the debt.


Can only one spouse file bankruptcy?

no the pressure of bankruptcy can effect both partners in a relationship