QUESTION
Can I go bankrupt without effecting my wifes financial credit score?
Asked on Jun 07th, 2012 on Bankruptcy - Georgia
More details to this question:
Most of my debt is under my name only. Can I go bankrupt without effecting my wifes financial credit score?
16 ANSWERS
Bankruptcy Attorney serving Concord, CA
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William Rubendall Attorney at Law
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If one spouse files bankruptcy it does not appear on the non-filer's credit report.
Answered on Jun 20th, 2012 at 9:14 PM
Criminal Law Attorney serving Fremont, CA
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Steven J. Alpers, A Professional Corporation
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Debt with her name must be paid she will be held to pay it all.
Answered on Jun 15th, 2012 at 5:31 PM
Barbara A. Fontaine
As long as your wife pays her bills, your bankruptcy should not affect her score.
Answered on Jun 15th, 2012 at 5:21 PM
Domestic Relations Attorney serving Huntsville, AL
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Ferguson & Ferguson
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You can file bankruptcy without affecting your wife's credit if none of your debts are joint with her.
Answered on Jun 15th, 2012 at 5:11 PM
The literal answer is yes, but asking if doing something as important as bankruptcy without affecting your wife is a little bit like saying that there is a hole in your end of the boat. The family stays afloat or goes down together. Yes, you can do this, but it is not necessarily a good idea. Talk to a bankruptcy lawyer and get some advice before you take the leap.
Answered on Jun 15th, 2012 at 5:08 PM
Bankruptcy Attorney serving Livonia, MI
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Charles J. Schneider, P.C.
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You may file a bankruptcy without your spouse. It will most likely not affect her debt.
Answered on Jun 15th, 2012 at 3:48 PM
Immigration Attorney serving Arlington, TX
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Law Office of Pho Ethan Tran, PLLC
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Your bankruptcy will not affect your wife's credit as long as she was not liable for any of the accounts.
Answered on Jun 15th, 2012 at 3:45 PM
One person's bankruptcy does not affect another's credit - even if its your spouse. The trouble areas tend to be joint loans where the spouse defaults - then it would affect the spouse's credit.
Answered on Jun 15th, 2012 at 2:57 PM
Norman Linder Hull
Your wife's credit score should not be affected by your filing bankruptcy individually. However, since the law does not prescribe how credit scores are determined, your wife should monitor her credit report on a regular basis.
Answered on Jun 15th, 2012 at 2:52 PM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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I would need more details, but if you wife is joint on some of your obligations there most probably will be an effect on her credit rating.
Answered on Jun 15th, 2012 at 2:51 PM
You can file bankruptcy as married but filing as an individual. Therefore, the only information that is needed from your wife is her income amount to calculate the household income. Her name will appear no where on the bankruptcy nor will it affect her credit. However, you will only be able to discharge debts that are in your name. If you have a joint debt in both of your names your wife will still be liable for that debt.
Answered on Jun 15th, 2012 at 2:40 PM
Criminal Defense Attorney serving Deltona, FL
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R. Jason de Groot, P.A.
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Yes, you can go bankrupt without effecting your wife's financial credit score, but she should file bankruptcy with you and her income would probably need to be reflected on the schedules. This would perhaps defeat your ability to file a chapter 7 if her income were included in doing the means test. So, you need to consult with an attorney to find out the specifics.
Answered on Jun 15th, 2012 at 2:24 PM
If you have jointly held debt, then your bankruptcy filing could get reported on her credit report by indicating that the cosigner or co-debtor filed Chapter 7. As for debt only in your name, that would not be reported on her credit report.
Answered on Jun 15th, 2012 at 1:55 PM
2 Awards
Yes. However, your community assets come in to your case. This means some of your wife's assets may be affected. I recommend you seek legal counsel to advise you both.
Answered on Jun 15th, 2012 at 1:17 PM
Bankruptcy Attorney serving Overland Park, KS
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The Smalley Law Firm, LLC
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Yes, however your wife will still be responsible for any joint debts.
Answered on Jun 15th, 2012 at 10:09 AM
Glen Edward Ashman
If you have no debts together, her credit score is unaffected.
Answered on Jun 15th, 2012 at 9:59 AM