QUESTION
If my husband claims a Chapter 13 but we share the debt, do the debts go away or do they just become my debts?
Asked on Oct 10th, 2012 on Bankruptcy - New Jersey
More details to this question:
If my husband claims Chapter 13 bankruptcy, but we share the debt, as in it is on both of our credit, does the debt become resolved or does it just become my debt?
9 ANSWERS
Bankruptcy Attorney serving Columbus, OH
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The Needleman Law Office
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It depends how you were treated as a co-debtor in the plan. There is no fee to come to my office for a free consultation. Together we can create a plan of action as to how we can treat the joint debts.
Answered on Oct 12th, 2012 at 10:20 AM
Bankruptcy Attorney serving Oakdale, CA
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Law Office of Todd Whiteley
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Too many unknowns to answer conclusively. But in general, if a debt is eligible to be discharged, i.e. general unsecured debt, and the chapter 13 plan does not pay the claim in its entirety, then the person sharing joint liability for the debt shall owe the difference. But as with most issues in bankruptcy, so much is determined by specific facts and circumstances. Best to consult a bankruptcy attorney.
Answered on Oct 12th, 2012 at 10:00 AM
Bankruptcy Attorney serving Myrtle Beach, SC
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Law Office of Margaret L. Evans, PC
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Question: If my husband claims a Chapter 13 but we share the debt, do the debts go away or do they just become my debts? Question Detail: If my husband claims Chapter 13 bankruptcy, but we share the debt, as in it is on both of our credit, does the debt become resolved or does it just become my debt? *- he would need to list you as a co-debtor on his schedules and petition; also, it would not relieve your liability on the debt and the creditors would most likely start pursuing you, too. Depending on your situation, you may want to file a joint petition so that the creditors can't get at either of you. Of course, with a Chapter 13, the creditors will be getting some repayment of their claims.
Answered on Oct 12th, 2012 at 9:55 AM
Bankruptcy Attorney serving Livonia, MI
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Charles J. Schneider, P.C.
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No any unpaid portion that is owed he is forgiven not you. It is has bankruptcy and he receives the discharge of any unpaid portion.
Answered on Oct 12th, 2012 at 4:31 AM
Only people who file bankruptcy get their debts discharged. If you and your husband are jointly liable, then both should probably file Chapter 13 because the spouse who doesn't file remains liable.
Answered on Oct 12th, 2012 at 3:46 AM
If your husband files Chapter 13, joint debts will be part of the repayment plan and only if he is paying 100% back will the creditors not go after you for the difference.
Answered on Oct 12th, 2012 at 3:22 AM
You would be responsible for paying the debt unless you filed with him.
Answered on Oct 12th, 2012 at 3:20 AM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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All joint debts become your debts. Speak with counsel.
Answered on Oct 11th, 2012 at 4:53 PM
Bankruptcy Law Attorney serving Livingston, NJ
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Law Office of Stuart M. Nachbar, P.C.
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In NJ, they become your responsibility. IF you file jointly, all of the debt is included, and you work together to get rid of it in the C13, paying only a percentage.
Answered on Oct 11th, 2012 at 4:52 PM