How will my husband’s Chapter 13 affect me?

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How will my husband’s Chapter 13 affect me?

I am getting a divorce. My husband’s name is the only name on the mortgage but my name is on the deed to the house. He will be going to jail and is filing Chapter 13 and the house will go into foreclosure after he goes to jail. The divorce may not be final before his bankruptcy is.

Asked on May 31, 2012 under Bankruptcy Law, North Carolina

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

So long as your name is not on the loan regarding the home that you are writing about, your soon to be former husband's Chapter 13 bankruptcy filing should have no impact upon your credit rating at least as to the home that most likely will be lost in a foreclosure.

However, joint credit card debts as well as maritial obligations that may be subject to the filing could result in a negative credit rating pertaining to yourself for reporting purposes. I suggest that you consult with an attorney who practices in the area of consumer law as to a more detailed opinion regarding the intended bankruptcy filing upon you.


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