Do you have to include all of your debts in a bankruptcy?
admin | Oct 12, 2010 | Comments 2
I have a lot of credit card debt with the majority being on 2 lines of credit (one is nearly 10,000 and the other is about 28,000). I have other credit cards but they are all manageable and within payment range for me. Due to a lot of personal reasons, my husband and I have chose to file bankruptcy but we don’t want to include ALL of our debts. Really, all of the debt is in my name..so my questions are:
-Can I file separately so he can keep a excellent credit rating?
-Do I have to include all of my debts?
-If not, keeping smaller debts and paying them on time, will they aid my credit?
**As of now we are up to date on ALL bills BUT this month, I will have to miss a payment on that line of credit for 28,000 b/c I just can’t pay it and still have money for food/gas etc. What is going to happen with that even even if I plot to file bankruptcy anyway?**
Popularity: 1% [?]
Filed Under: Bankruptcy
you can file alone–but if he is authorised to us the cards even in your name then they will come after him. You can re-afirm on any debts you wish in the petition. The lender must and most will as they want your money
Go to google.com and type in legalhelpers.. This website will answer alot of your questions….. You can file alone without your husband…. If he is co-owner on the card then he is responsible but if he is just an authorized user (meaning he is not co-owner) then he is not responsible. All he has to do is write to those creditors and say he noticed he was authorized to charge on your account and he does not want to be and they will remove his name. I know this for a detail because one day I looked at my credit report and it showed I had a MBNA account and I was authorized user. So I wrote to MBNA and said they had me as an authorized user and my husbands debt was on my credit report and it looked like I owed it but in detail I did not. It was his card and it showed authorized. They did remove me within 30 days and it was off my credit report which helped my score.. Have him remove himself before you file.. Also, you are suppose to turn in everything but I have a friend who never told the bankruptcy court about her Sears because she loved shopping there and using it and did not want Sears to find out so she did not turn it in and is still using the card today and Sears never found out about it.. If she would have turned in her Sears debt and reaffirmed it in court and told Sears she would still pay the remaining amount they would have been pleased about it but Sears would have shut her account down. That is what she did not want. So now you know.. You questioned what will happen? You will turn in that $28,000 loan and it will be wiped out in the bankruptcy and everything you turn in. You will have a clean line up and can initiation to live again. turn it all in (apart from sears or whatever small one you have u want to keep and don’t mention that one) if you are going to have chpt 7 on your credit then make it worth it and turn it in and make rid of it and initiation over,. Its a legal law and if you have to file then do it and don’t caution anyone and you won’t have to listen to everyones terrible opinions. We just did and pleased about it. It was simpler than we ever imagined. Stop paying for stuff now and initiation stashing some money under your mattress because you will need it to pay for your attorney. Your creditors won’t come after you for a while because you can stall them off while you save up money to file. Thats the preeminent advise I can give you because that is what we did and now pleased about it