Does My Wife Get Effected

[NotFun]

I'm thinking of filing chapter 7, and I'm curious if it will effect my wife's credit.

She is not on one single debt of mine, no mortgages, no credit cards, nothing.

I just didn't know if they would include her because were married.

[Boscoe]

should not affect her credit at all in this case. But you have to include joint expenses on your schedule J when you file. But to answer your question, NO, it will NOT affect her.

[NotFun]

see that's what I think is going to help, she doesn't have any expenses. So her credit should remain untouched. I HOPE!!

[JRScott]

Shouldn't affect her so long as she's not on any of the debt

[NotFun]

WoW....

[NotFun]

OK, I have decided to move forward with filing.

Now here is my new question:
Can my wife buy a house in her name, and only her name? And can they come back and try to take that house, or put a lien on that one?

[Boscoe]

If you file by yourself, and get discharged, the creditors can NEVER come at you for collection of any of that debt, or any future debt, like if your wife buys the house.

Remember, it is fine for just her to be on the mortgage loans as her credit is still quite good, but if you do this, you should strongly consider putting both of your names on the deed. Gets pricey and inconvenient to do it later. Just a thought.

[NotFun]

If you file by yourself, and get discharged, the creditors can NEVER come at you for collection of any of that debt, or any future debt, like if your wife buys the house.

Remember, it is fine for just her to be on the mortgage loans as her credit is still quite good, but if you do this, you should strongly consider putting both of your names on the deed. Gets pricey and inconvenient to do it later. Just a thought.

So if she buys the house, and puts the deed and mortgage just in her name I should be ok??

I'm thinking to just quick claim after the discharge has gone through.

What does everyone think?

[keepmine]

So if she buys the house, and puts the deed and mortgage just in her name I should be ok??

I'm thinking to just quick claim after the discharge has gone through.

What does everyone think?

I guess we need to know what your thinking.
As others have said, once you are discharged, you can obtain all the assets and property you please. Nobody can come after you on a discharged debt.
Why the quitclaim post bk?

[NotFun]

So if she buys the house, and puts the deed and mortgage just in her name I should be ok??

I'm thinking to just quick claim after the discharge has gone through.

What does everyone think?

I guess we need to know what your thinking.
As others have said, once you are discharged, you can obtain all the assets and property you please. Nobody can come after you on a discharged debt.
Why the quitclaim post bk?

Well the quick claim puts me on the deed, its the easiest and cost effective way to do it.

I think I'm just worried that if we get in the house before I file, can they come and say thats an asset even though its ONLY in my wifes name?

[Boscoe]

Why would you be buying a house if you are heading into BK? Why not wait? As you say, her credit will be untouched.

[NotFun]

Why would you be buying a house if you are heading into BK? Why not wait? As you say, her credit will be untouched.

Well I need a place to live, so the attorney told me to go find a place now. Especially since the market is so low right now.

See I'm all paid up to date, but when I file this week... thats it, no more payments for me.

She is going to be doing 100% financing, so in reality there's no equity for them to come after. I'm just afraid of liens after.

[keepmine]

She is going to be doing 100% financing, so in reality there's no equity for them to come after. I'm just afraid of liens after.

There will be no leins from debts discharged in bk.

[NotFun]

She is going to be doing 100% financing, so in reality there's no equity for them to come after. I'm just afraid of liens after.

There will be no leins from debts discharged in bk.

But she'll be buying the house before I discharge, that's what I'm afraid of.

[familyof7]

It does not matter when she buys the house if it is in her name only and you are filing WITHOUT her.