Posted on: 21st Dec, 2012 03:22 pm
My mother is 68yoa and extremely over extended on her debit verse income. Thanks to get money quickly flyers and establishments. She has also been recently diagnosed with stage 4 lung cancer and currently undergoing treatment. (fingers crossed for a miracle). She is planning on filing Chapter 7, due to her recent diagnosis she was advised to quit claim her home(still under and mortgage and improvement loan) and property to me and my sister. Neither my sister or I are listed on the mortgage or improvement loan. Will her filling Chapter 7 affect the credit of my sister or I?
no, only your mother is liable for the loans and so, credit score of your sister as well as you will not suffer, even if she files for chapter 7 bankruptcy.
hi guest,
if you're not filing bankruptcy jointly with your mother, then her bankruptcy filing won't have a negative impact on your credit situation.
if you're not filing bankruptcy jointly with your mother, then her bankruptcy filing won't have a negative impact on your credit situation.