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What happens to a joint credit card bill with a zero balance at the time of a divorce that one party continues to use and then files for bankruptcy?
Wiki User
∙ 19y ago
A joint account remains the liability of both persons regardless of their marital status. If someone has their liability discharged through bankruptcy, the other account holder would be 100% liable for the balance on the account. If this account was addressed in the divorce decree, the spouse MAY be able to seek relief through the divorce court. But that jurisdiction and any ruling there would have no impact of their credit report.
Wiki User
∙ 19y ago
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What happens to credit cards in a bankruptcy when there is a zero balance?
it does not work
What happens to a mortgage after a bankruptcy?
What happens to a mortgage after bankruptcy depends on whether or not the debt is reaffirmed. If the mortgage is reaffirmed the homeowner continues to pay it as if the bankruptcy had not been filed, since the debt has not been discharged. If the debt is not reaffirmed, what happens to the mortgage depends on the policies of the individual lender.
What happens if a co signer files bankruptcy?
They both go bankruptcy
What happens to a credit card bill after a divorce when one spouse files bankruptcy after separation but before the divorce is final?
Martial status has no bearing on credit card bills. The issue is whether it is a joint or an individual account. Joint accounts are the liability of both signators, regardless of their marital status. If one party has their obligation discharged in bankruptcy, the other account holder becomes liable for 100% of any remaining balance. Debts and assets are frequently distributed during the divorce process and spouses may have recourse within the jurisdiction of that court. However, your divorce degree will never supercede any other contract (like a card holder agreement) and will have no bearing on credit issues. Creditors hold the person(s) liable who initially opened the account. They don't care if you divorce later on, they still want to be paid.
What happens if you get unexpected money after bankruptcy was discharged?
nothing
What happens to credit cards in a bankruptcy when there is a zero balance?
it does not work
What happens to a mortgage after a bankruptcy?
What happens to a mortgage after bankruptcy depends on whether or not the debt is reaffirmed. If the mortgage is reaffirmed the homeowner continues to pay it as if the bankruptcy had not been filed, since the debt has not been discharged. If the debt is not reaffirmed, what happens to the mortgage depends on the policies of the individual lender.
If you lease a car and file for bankruptcy what happens to the car?
You will most likely still owe on the lease but the balance due might be dischargeable. But you will for sure lose the car. A bankruptcy attorney will be able to tell you for sure.
What happens if a co signer files bankruptcy?
They both go bankruptcy
What happens when a bankruptcy trustee uses an unexpected inheritance the petitioner receives to pay off debts a judge had ordered the ex-husband pay off at prior divorce proceedings?
The debts are paid off and the bankruptcy is closed or any remaining debts are discharged. Assuming the petitioner was the ex-wife who received the inheritance, the divorce court order still stands, and the ex-wife may file a contempt action in divorce court to have the ex-husband pay the ex-wife the amount used to pay the debts. He may even be liable for some or all the costs of the bankruptcy if his failure to pay the debts led to the bankruptcy.
What happens to a judgment lien in a bankruptcy?
If the bankruptcy is discharged you are no longer responsible for the debt.
What happens if the queen were to divorce her husband?
No divorce allowed
What happens to a credit card bill after a divorce when one spouse files bankruptcy after separation but before the divorce is final?
Martial status has no bearing on credit card bills. The issue is whether it is a joint or an individual account. Joint accounts are the liability of both signators, regardless of their marital status. If one party has their obligation discharged in bankruptcy, the other account holder becomes liable for 100% of any remaining balance. Debts and assets are frequently distributed during the divorce process and spouses may have recourse within the jurisdiction of that court. However, your divorce degree will never supercede any other contract (like a card holder agreement) and will have no bearing on credit issues. Creditors hold the person(s) liable who initially opened the account. They don't care if you divorce later on, they still want to be paid.
What happens if you get unexpected money after bankruptcy was discharged?
nothing
What happens when a judgment is against us while in the process of claiming bankruptcy?
If you are filing bankruptcy, you should have a bankruptcy lawyer onboard, and this is a question for him or her to deal with. You do not want to go through a bankruptcy on your own, especially as the bankruptcy rules have changed.
What if happens if you cosigned for car loan and the borrower files for bankruptcy?
if the consigner files bankruptcy can the borrower take the car
What happens when a creditor doesn't file a proof of claim in a bankruptcy case?
If it is not a secured debt it will be included in the bankruptcy discharge.
