If one spouse files for bankruptcy, will this affect the credit rating of the other?
96477
No it doesn't. My wife filed for just the things in her name only. It didn't affect mine at all. Just remember that for a while, if you open new loans or buy a car or whatever, you'll have to do it in just the one person's name. However, you can still use both people's income to get the loan.
191327
On a federal level there are no affects to transferring assets between spouses.  Some states such as California are community property states, which means that all assets are considered to be owned by both spouses.
766169
I don't think that filing bankruptcy changes the past -- you had the judgement and still do.  It's just been discharged via the courts.\n\nMost non-open items come off your credit report within seven years, but, realistically, keeping your nose clean for two years will immensely help your credit.
498793
This is why you should not do your own bankruptcy.  Hire an attorney and let him/her help you.
1044080
this is tough question normally there is a wait time of 2 years\nhowever sounds like your husband did not file\nclick on my pic there is a bad credit link there which has the following text\n"We have over 80 Little-known Banks & Companies that offer Bad Credit Loans, Bad Credit Home Loans, Bad Credit Auto Loans, and Bad Credit Personal loans to people with Bad Credit or even a Bankruptcy. Many require absolutely NO COLLATERAL & NO CO-SIGNERS. Home ownership is not required."\ncheck it out for yourself
882522
Actually, it could effect it - it depends upon the type of loan and whether or not it's past due.  For example,  if a spouse is delinquent in paying child support and the the attorney general has filed some sort of paperwork with the IRS to withhold the tax refund.  Also, past due school loans could garnish the refund.  In these type of cases, the other spouse may be able to file an "injured spouse claim" to claim a refund for their part of income and tax, if applicable.  \n\nIf there are just regular loans, other than mortgage, this will have no bearing on filing.
880305
if they wont work out a forebearance agreement,then contact a bankruptcy lawyer, call HUD now!!!! you nedd to prepare to move in case.....good luck
854089
Because to them there is no such thing as 'your credit and his credit' until you're legally divorced. It's a joint account to them. If I were you, I'd call them and cancel the card, and any other card that he may have jointly with you. (Any card that you both signed for),\nTell them you want to cancel the joint accounts, or have your name removed it. I'd close them though, just to make sure no one at the company gets confused and expects you to pay for his stuff.\nYou may or may not want to tell them you two are separated. I'm not sure about that. \nJust try canceling the card first without telling them and see if they'll close it. If they won't, then tell them you're separated and not responsible for his debt. Then, get a lawyer quickly. I've seen a case not long ago where a man ran up $30,000 in debt in his wife's name and caused a big ugly scene.  She eventually won in court, but man, it was ugly!
737174
It is not a South Carolina law, or any other State law, which protects every individual's privacy... it is Federal law.  Your financial privacy AND your spouse's financial privacy is protected, and creditors who provide information to ANYONE other than the debtor can get in serious legal trouble.\n\nHowever, you or your spouse can provide a creditor with written permission to discuss financial details about your accounts.
222042
You you can.  But it's still going to take a lawyer to help divide the debts between you and your husband.\n\nYou also need to contact your bankruptcy lawyer and trustee, because it's going to have a drastic effect on you "plan".
373808
Was the chapter eleven filed by your husband before or after you were married? If it was before you were married you may be able to have that noted on your credit report. Having said that, more and more companies are paying attention to credit reports as a way to thin out persons who may not be able to be responsible with money management. This does not mean that this is you. But you do need to understand that the type of jobs you keep applying for may fit this profile.  Try looking into government positions. Most do only a background and not a finacial report (which does not say much for the government). Do look at your own credit report. If it is poor, than find a way to build good credit for yourself and encourage your spouse to do the same. Financial counseling is a good start to overcome your distress.  Good luck!
122664
If a spouse INCURS a debt and she is liable on that debt individually, then her husband does not INCUR the same debt unless he has guaranteed the debt as well. \n\n(This is federal law)
372394
start paying the stuff you owe on yet. and you cant declare bankruptcy unless you are so much in debt, i believe you have to be close to 10 grand in debt to do so. and i dont think it will hurt your husbands credit.
616920
Good job on making the changes you need to!  It's always refreshing to see people taking responsibility for their problems rather than just heading to bankruptcy court.\n\nIt may be a long shot, but you can call the credit card companies and talk to them about the credit report.  You might also consider talking to either a financial advisor (who would charge a fee but would probably give you very good advice) or a NON-PROFIT credit counseling agency.  If you choose the latter, make sure that you check with the Better Business Bureau or otherwise check them out THOROUGHLY - there are some scam artists out there.  \n\nI *believe* there are ways to "fix" your husband's credit report, but I'm not up on the specifics of how it happens.\n\nBest of luck!
173795
You are actually asking two questions, one related to your credit report and it's effect on your husband, and your liability on your old debts.\n\nThey will still be able to come after you and garnish your wages (NOT your husbands).  So if you have a job you are still in hot water.\n\nIf there is any property in your name only they can go after that.  Property jointly owned or pruchased after you marry can't be touched.  So if you have a car currently in your name, or a home, it can have a lien placed on it.\n\nWhen the collectors find out your new address, they will continue to hound you.  That's easy to solve....read the links I've supplied below and send them a "Cease and Desist" order not to contact you again.\n\nNow the good news.\n\nYour new husband does not inherrit your credit "baggage" once you are married.  Each of you have your own credit history, and unless you make joint purchases it will not effect him at all.\n\nYour husband's good credit can actually help you rebuild your own credit.  He can co-sign on some credit for you, and by making prompt payments you can re-establish yourself. \n\nI'm speaking from first hand experience here.....\n\nWhen my wife got divorced, her ex was supposed to pay a portion of the debts.  He didn't, so the collectors starting calling her up.  They started threatening her, even saying they was going to jail if she didn't pay.  She was so afraid she fled from Florida and came to Michigan, where her family lived.\n\nThen we got married....and the creditors got here new address.  I came home from work and found her crying and scared to death!  She got a collection notice in the mail!\n\nThen she got mad cause I was laughing!\n\nYou see.....what these guys didn't know was....I WAS ARMED!  I knew the law!  And now I was pissed!  In a very short time I had these guys off her case, no more calls or letters. \n\nIn a couple years her credit was spotless, she purchased her own car and had 2 credit cards.  \n\nYou need to just live off your husband's credit for a while.  You are in good shape, everything will work out fine.\n\nJust get ARMED!  Read the links below.
1058288
Man do I disagree with most of this advice!\n\nFor starters, any debts that occured before you got married are not suddenly "shared" with you.  They are his debts.  The way it's going to effect you is if they (for example) try to repo the home or car.  If you are living there, you lose the home.  But what else did you expect?   It's his home, bought under his credit.  \n\nNow, if you come into this marriage with your home/car they can NOT touch it.  His name is not on the contracts, and in most states they can not place a lien on it unless his name is jointly on it.\n\nYour credit does remain uneffected.  Any property you own (unless in a community property state) is still yours and can't be touched by his creditors.  \n\nWhen I got married, my wife came with a lot of "debt baggage", and creditors were hounding her something terrible.  But I know the law!  I put an end to that harrassment, and they couldn't touch ANY of my property or hurt my credit at all.\n\nI spent the next 2 years rebuilding her credit by co-signing on credit cards and a car loan. Now her credit is better then mine!  \n\nI will suggest that he get the bankruptcy before you get married so you can get a fresh start as soon as possible.
689125
I did it 10 years ago and it worked out for me but don't be misled.  There are 2 different bankruptcy clauses.  Chapter 13 and chapter 7.  One is based on a person that was paying on time and suddely were thrust into the situation because of a hardship like being laid off or extreme medical bill occuring.  This is the better situation, Chapter 13.  Chapter 7 is for someone that ran up their credit and lived beyond their means.  It is hard to recover from Chapter 7.