How will bankruptcy effect a divorce in process and a house about to enter foreclosure?

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How will bankruptcy effect a divorce in process and a house about to enter foreclosure?

My spouse wants to file bankruptcy individually while we are in the process of a divorce. I am also working to avoid foreclosure of our house. How will this effect my credit and will it force the house into foreclosure?

Asked on April 19, 2012 under Bankruptcy Law, Pennsylvania

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Your soon to be former wife's bankruptcy filing and possible discharge should have no effect whatsoever upon your own personal credit so long as you are current in paying your creditors including the lender on your home. You need to remember that your spouse's bankruptcy filing with respect to her creditors for all intents and purposes will have no bearing as to you since you are not the one filing for such protection.

Your home will ony be foreclosed upon if you cannot continue to service the debt load as to it.


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