Will my assets be acounted for if my spouse files bankruptcy?
Date: Sun, 06/03/2018 - 21:25
Will my assets be acounted for if my spouse files bankruptcy?
It depends on the type of
It depends on the type of bankruptcy that you are planning to file.
If you are planning to file chapter 7 bankruptcy, you should include your spouse's income. If your spouse owes the debt individually, your income will not be included especially when you don't have any joint account.
Jointly owned properties are
Jointly owned properties are taken into consideration when a spouse files bankruptcy. One spouse can file a bankruptcy along and doesn't have to include his husband or wife. Only the person filing bankruptcy, his/her assets are examined and use to repay debts in case of Chapter 7.
It is better while he/she will be going through the bankruptcy process, you can financially support him and work towards a better financial future since bankruptcy will help to give a fresh financial start.