Posted on: 29th Mar, 2010 07:15 pm
my name is on the title of our home but nor our mortgage. We plan on declaring bankruptcy on my wife, her credit only and including the home. Can i buy a house using my name and credit, or will the bankruptcy in her name count against my name. we live in florida
Hi mjldad
If your wife files bankruptcy, it will not affect your credit scores in any way. She will get discharged from her debts through the bankruptcy, but you will remain liable for your debts. However, if you have joint debts and your wife alone files bankruptcy, the creditors can come after you to recover the outstanding debt. But if she files bankruptcy Chapter 13 and makes the payments as per the plan, the creditors will not come after you even if you owe the debt jointly. Since your credit will not get negatively affected if your wife files bankruptcy, you can buy a home using your own credit and income.
If your wife files bankruptcy, it will not affect your credit scores in any way. She will get discharged from her debts through the bankruptcy, but you will remain liable for your debts. However, if you have joint debts and your wife alone files bankruptcy, the creditors can come after you to recover the outstanding debt. But if she files bankruptcy Chapter 13 and makes the payments as per the plan, the creditors will not come after you even if you owe the debt jointly. Since your credit will not get negatively affected if your wife files bankruptcy, you can buy a home using your own credit and income.