It depends. If you are on the mortgage with your husband and you file bankruptcy, then the mortgage company can still pursue him to make good on the mortgage. Same goes for any other debt that you are joint with your husband. Even in a divorce, and in most cases, if the court decides that you are responsible for some amount of debt that is in both your names, the bankruptcy court will not permit you to discharge those debts. If for some reason, as in the case of the home, you manage to get your portion of the debt discharged through bankruptcy, you could then find yourself in contempt of the final divorce decree; since in most cases this is an obligation directed by a state court to prevent the other party from having to be solely responsible for joint debt that the two of you incurred during the marriage. Your bankruptcy attorney should be able to explain all of this to you in a succinct manner.
Answered on Jan 16th, 2012 at 5:16 PM