How will my bankruptcy affect my spouse’s credit?
A San Jose bankruptcy attorney answers the question: How will my bankruptcy affect my spouse’s credit?
Generally, your debts are your debts only and only you are responsible for them. If you file for bankruptcy, your spouse is not responsible for your debts and will have no effects on your spouse.
Generally, married couples maintain two separate credit records and histories, so therefore, if only one spouse files for bankruptcy, it will not affect the other and his/her credit rating will not be affected. However, if your spouse co-signed or guaranteed your debt or if your spouse shares a joint account with you, then s/he will also be affected since this would become his/her debt too. Due to the bankruptcy, the bankrupt spouse may not qualify as a co-signer in the future and may have indirect effects to the other spouse as well.
If you have a question regarding Bankruptcy in San Jose please contact us at 408.279.2288 or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our San Jose bankruptcy attorneys we can schedule you a free face to face appointment in our office location nearest you. Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your case. If you have questions about filing a chapter 7 bankruptcy, a chapter 11 bankruptcy, a chapter 13 bankruptcy, lien stripping, cram down, stopping a foreclosure or wage garnishment, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California who can assist your financial needs. Please feel free to complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.
