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What if you own a house with your wife and wife only wants to file bankruptcy?
Wiki User
∙ 13y ago
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.
Wiki User
∙ 17y ago
Wiki User
∙ 13y agoThen her half of the house becomes part of the BK estate. If the value of her share is under your state's exemptions, they then Trustee cant take it. If the value is over the exemption, then it is subject to seizure and sale. (the Trustee might accept a cash payment for the value not covered by the exemption)
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Who can file for bankruptcy in Wisconsin?
Anyone who is a resident of the state can file for bankruptcy in Wisconsin. There is no restriction on who can file, only for which chapter they can file in.
How does surrendering your house in chapter 7 affect your credit report?
If you are surrendering your house anyways, it is usually better for your credit score if you do it through bankruptcy. If your house is foreclosed on before you file bankruptcy, then your credit score is hit by both the foreclosure and the bankruptcy. If you let your house go back through bankruptcy, instead, then your credit score is only hit by a bankruptcy.
can i file bankruptcy without my husband in the state of idaho?
You can only file bankruptcy without a spouse in cases where the debt is yours only. For example, if you have a credit card that is in your name only then you can file without your husband.
What is the best approach to file for bankruptcy?
The best approach to file for bankruptcy is to first evaluate your current situation. Is it truly bankruptcy? How will this affect you? If you decide that bankruptcy is the only way, this is what you must do. Contact a bankruptcy attorney to make sure that it is all done correctly. That is the only way to make sure.
Will your wife have to pay if you file bankruptcy?
If her name is on a loan that you file bankruptcy on than she would then be responsible for that loan. Filing a bankruptcy only gets your name off the loan(s), you would both need to file together.
Can you file bankruptcy if your name is on your parents deed?
Maybe. If your parents are living in the house and you're not, you may be considered to have only an equitable interest, especially if there is not much equity in the house. If you live in the house with your parents, you may be enttiled to a homestead exemption, but this can be tricky. Talk to an experienced bankruptcy lawyer.
If you file for bankruptcy world it take care of my cort fees?
Generally there is only the fee to file.
Did charter communications file for bankruptcy?
From what I have read, yes, but not for liquidation only for reorganization.
You are 82 years old your house and car are paid for older home and 2001 car but you have a lot of credit card debt Can you file for bankruptcy just for your credit cards?
You file bankruptcy on all debts you owe. If you only owe money on credit cards you can file on them. Otherwise, if you owe money to a doctor, hospital, bank or other place you have to list them.
Will a collections attorney not sue you if you say you will file bankruptcy?
They WILL sue you as long as they have the legal right to do so. Bankruptcy may be your only option.
Mechanics lien on your house that is included in a Chapter 13 Can the lien holder start foreclosure on your house?
Yes they can, you will need to file a demurrer to inform the court that the house is involved in a bankruptcy - that may not avoid foreclosure however, it may only delay it.
Can you file bankruptcy on a home equity line of credit and keep the house?
You file bankruptcy as an individual. It involves everything you owe and everything you own. You cannot file bankruptcy for only one loan The bankruptcy process can exempt certain assets from the process. Some debts may not be cleared. A debt secured by a specific asset has first call on the funds from the sale of the asset. If the sale fails to pay all that is owed, the additional amounts can be claimed as unsecured debts owed. If you want to know more about bankruptcy in your state and how you may be able to protect your primary residence you should consult with a bankruptcy attorney.
