If my husband is thinking of going bankrupt and I’m in a process of opening a business, will him going bankrupt will effect me?

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If my husband is thinking of going bankrupt and I’m in a process of opening a business, will him going bankrupt will effect me?

If so, how I can avoid it?

Asked on August 29, 2012 under Bankruptcy Law, New Jersey

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

Yes, if your husband files for bankruptcy protection, your marital assets (liabilities as well) will be included in the bankruptcy schedules as well as his separate obligations. As a result, you will indirectly be affected by your husband's bankruptcy filing and possible discharge with respect to your future business venture. I suggest that you consult further with a bankruptcy attorney about your matter.


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