I am new to the boards & so I'm not sure if this question has been asked before. Sorry in advance if it has been already.
I am looking into possibly filing for Ch 7 later this year but wanted to see if anyone knew how a bankruptcy was handled when only one spouse files. All of the dept is in my name mainly from a business that has worked out & from the last year. I think I might be on one or two of his credit cards as an authorized user but I don't think I'm a joint account holder. But he has really good credit so we don't want to mess that up. Our home loan is in his name & there is a lot of equity due to our past salaries being very high. We have two vehicles that are both paid for but also just in his name. I also have a few IRA retirement accounts that I contributed to 3+ years ago before all this came up but other than that I really don't have any assets in my name. My question is do they include his income in my bankruptcy even if I'm the only one filing. I am now disabled so only get social security but his income is apx. 52,000.00 a year or that is what shows on his W-2 statement this year for gross wages so I think we are over the median income if they do count his. Also to make things a bit more confusing we are separated at the moment but I'm not sure how that would come in to play. Anyway I was just wanting to check & see if anyone knew how this was handled. Thanks so much for any help or in site you can give me. This site has been so great for information.
Oh, I also have lived in Kansas the last 2 years but will be moving to Florida the first part of next year.
I am looking into possibly filing for Ch 7 later this year but wanted to see if anyone knew how a bankruptcy was handled when only one spouse files. All of the dept is in my name mainly from a business that has worked out & from the last year. I think I might be on one or two of his credit cards as an authorized user but I don't think I'm a joint account holder. But he has really good credit so we don't want to mess that up. Our home loan is in his name & there is a lot of equity due to our past salaries being very high. We have two vehicles that are both paid for but also just in his name. I also have a few IRA retirement accounts that I contributed to 3+ years ago before all this came up but other than that I really don't have any assets in my name. My question is do they include his income in my bankruptcy even if I'm the only one filing. I am now disabled so only get social security but his income is apx. 52,000.00 a year or that is what shows on his W-2 statement this year for gross wages so I think we are over the median income if they do count his. Also to make things a bit more confusing we are separated at the moment but I'm not sure how that would come in to play. Anyway I was just wanting to check & see if anyone knew how this was handled. Thanks so much for any help or in site you can give me. This site has been so great for information.
Oh, I also have lived in Kansas the last 2 years but will be moving to Florida the first part of next year.
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