QUESTION
How am I going to be affected if he file for bankruptcy?
Asked on Mar 05th, 2015 on Bankruptcy - Louisiana
More details to this question:
I am in the process of filing for divorce. My soon to be ex is threatening to file bankruptcy out of revenge. He stated that since I owned a house prior to marriage and have a vehicle not registered to me that they will take everything mine and I will feel his pain. I was an authorized user on two of his 5 credit cards, have since removed myself. He has not been paying his bills and is maxed out. He is planning on filing paperwork knowing that they will come after me too. Will I lose my house and vehicle even those house was purchased 4 years prior to marriage and car is my mother’s? I am freaking out.
16 ANSWERS
You have a lot of rights. However, I can not answer your questions based on the limited information here. You would be wise to pay an experienced BK lawyer for one hour of their time so you can properly plan on how to proceed. This will save you lots of grief, and countless sleepless nights. Do not be "Penny wise and pound foolish." Good luck!
Answered on Mar 09th, 2015 at 2:39 PM
Bankruptcy Attorney serving Madison, WI
at
Richard B. Jacobson & Associates, LLC
Update Your Profile
It sounds like your husband is pulling the all-too-frequent control card. Don't give into it; don't freak out; and as to most of these threats, don't worry. What you should do, however, promptly and without fail, is to locate and retain a lawyer experienced in both divorce and bankruptcy, and state your questions to him or her. This office practices in both areas of law. So do quite a few others. Good Luck.
Answered on Mar 06th, 2015 at 3:47 PM
Business Law Attorney serving Bingham Farms, MI
at
James T. Weiner, P.C.
Update Your Profile
Relax.. If your car is in your mother's name you will not loose it.. and his creditors will have no claim on it. If your house is SOLELY in your name and you did not add him to the title his creditors will not have any right to come after it. If you did add him even then it is unlikely that you will loose your house. If you were an authorized user on his credit card accounts they might try to come after you but only for the charges that you incurred. The best advise I can give is to hire a good attorney to represent you.
Answered on Mar 06th, 2015 at 9:48 AM
Personal Injury Law Attorney serving San Diego, CA
at
Law Office of Robert Burns
Update Your Profile
My understanding of the bankruptcy effect is that it will either be a reorganization or a liquidation. Under the former you might be in limbo or chaos for awhile but under the latter you might be solely liable (or pushed into Bankruptcy Court) for the debts as to which he is severed.
Answered on Mar 06th, 2015 at 9:47 AM
Dispute Resolution Attorney serving Seattle, WA
at
Law Offices of Helene Ellenbogen P.S.
Update Your Profile
If the debt was incurred during the marriage, it is, indeed, both of your debt. If it was not incurred during the marriage, then it is only the debt of the person in whose name it is held. If a vehicle is not registered to you, it does not belong to you unless you transferred it to someone else (without getting any money for it) in order to avoid your creditors. It would help to talk to an bankruptcy attorney.
Answered on Mar 06th, 2015 at 9:47 AM
Appellate Attorney serving Grosse Pointe Farms, MI
at
Musilli Brennan Associates, PLLC
Update Your Profile
This is a series of questions which should be addressed to your counsel, and which can only be answered following a full exposition of the facts. Get to an attorney quickly, the timing.
Answered on Mar 06th, 2015 at 9:46 AM
2 Awards
If he files for bankruptcy while you are still married only your community property is pulled into his bankruptcy. The house that you own prior to marriage in a vehicle that is not in your name sound like they are not community property. If you put his name on your house then it is community property. However,you and he share the homestead exemption so if he does not claim it you could assert it.
Answered on Mar 06th, 2015 at 9:46 AM
Actually his BK could give you some benefits. Your separate property (or those of third parties) CANNOT be part of the BK estate. Only his separate property and the community property. You may be responsible for debts you both incurred during the marriage.
Answered on Mar 06th, 2015 at 9:44 AM
Why are you taking legal advice from your spouse? Don't you already know what a jerk he is? And that he is a lying liar! Your separate property is not property that can be taken by a bankruptcy court to be used to pay his debts, even if those debts were made during the marriage.
Answered on Mar 06th, 2015 at 9:44 AM
Medical Malpractice Attorney serving Clermont, FL
at
Joanna Mitchell & Associates, P.A.
Update Your Profile
More information needs to be known in order to answer your questions. For example, is his name on the mortgage or the deed? Basically, if he files bankruptcy, it will only affect things that are in his name or things that are jointly in both of your names (not you as an authorized user). You should discuss this with an attorney in order to best determine your potential rights and options, as well as the effect, if any, of him filing bankruptcy.
Answered on Mar 06th, 2015 at 9:44 AM
Commercial & Bankruptcy Law Attorney serving Powell, OH
at
Ronald K. Nims
Update Your Profile
As a bankruptcy attorney, the most critical advice I give clients is Relax, let's talk about the issue before you freak out. As you described it, everything your soon-to-be ex husband told you is total bull. First, being an "authorized user" on a credit card doesn't make you liable on the credit card. You're only liable on a credit card if you sign the credit card agreement as a borrower. If the house is in your name, neither he nor his creditors have any right to take the house in a bankruptcy. The only way his creditors would have a claim against the house is if you put his name on the deed. And it's exactly the car is in your mother's name, your mother isn't liable for any of his debts and there is nothing either he or his creditors can do to get a car owned by another person. You do need expert advice on the affect his bankruptcy will have on any payments ordered in the divorce.
Answered on Mar 06th, 2015 at 9:41 AM
Ask your divorce lawyer for a referral to a good bankruptcy attorney. A defensive bankruptcy may be required to protect yourself. A house is an asset but you should still be able to use a homestead exemption. The car is not as big of a problem.
Answered on Mar 06th, 2015 at 9:37 AM
Bankruptcy Attorney serving Seattle, WA
at
The Law Office of Marc S. Stern
Update Your Profile
First, you really need separate counsel. The questions that you ask are questions of state law. In Washington, your separate property is not liable for his separate debts and community debts that he incurs. It is an extremely complex area of the law and you need really counsel.
Answered on Mar 06th, 2015 at 9:36 AM
DUI Attorney serving Grove City, OH
at
Law Office of John G. Galasso
Update Your Profile
Filing of the bankruptcy will put a hold on your divorce proceeding; As far as credit card debt, if your an authorized signer, then you would be on the hook if he discharges them in bankruptcy;The house sounds like its a premarital asset and the car is not in your name; If you are indeed sued by the credit card company's, then would first have to get a judgment against you before the would go after any assets.
Answered on Mar 06th, 2015 at 9:35 AM
1 Award
You should consult with an attorney Who specializes in bankruptcy. It is possible that your husband could be discharged from the debt and you responsible for the entire debt.
Answered on Mar 06th, 2015 at 9:35 AM
If the house was purchased prior to marriage most likely it is not community property, but separate property.
Answered on Mar 06th, 2015 at 9:35 AM