Significant Other's Saving Account?

[paul smith]

I have lost my job and will be going for a CH 7. I have about $2k in savings which is going quick. I am able to keep my mortgage current.

My wife has about $70k in savings and my two year old has $10k in savings, both accounts are in their individual names, I am not on either account. Wife will not part with the $70k, she's using it to finance her education and I will not touch my daughters $10k.

Our home's title is in both mine and my wife's name. There is negative equity currently. The mortgage is in my name only.

Can the BK attach to my wife's and/or daughter's savings?

[GreenInkOnPaper]

Yes. The trustee WILL take your wife's savings and pay the debt. Just wondering why she won't help?

[paul smith]

it was her $$$ before we were married i was told by others that they could not touch it as long as i was not on the acct for over 1 year

[GreenInkOnPaper]

I think you were given some bad information. Now that your are married, what's your's is her's and vice-versa. I could be wrong...but I legally seperated from my hubby to protect my finances.

[keepmine]

I think you were given some bad information. Now that your are married, what's your's is her's and vice-versa. I could be wrong...but I legally seperated from my hubby to protect my finances.

THat's not correct. Many married couples keep their finaces separate with no ramifications. I filed bk and was married. My wife's assets were never an issue.

[anime-chicka]

THat's not correct. Many married couples keep their finaces separate with no ramifications. I filed bk and was married. My wife's assets were never an issue.

Chiming in on the separate finances. Hubby and I both have separate checking accounts and I am filing by myself. Hubby has about 25K invested in a 401k, about 2k in stock and a huge comic book collection (probably about 2500 or so, no idea of worth). He's said that if they even think about taking his stuff, he'll train the cats to smother the trustee with love.

[GreenInkOnPaper]

Ok. I was told that when DH filed, MY salary, assets, and savings were all taken into consideration.

[keepmine]

Ok. I was told that when DH filed, MY salary, assets, and savings were all taken into consideration.

For means testing purposes, your husband would need to disclose your income. You would then, back out your expenses further down the form.\
Individual property you hold should not be an issue unless, he removed himself from joint assets prior to filing.

[AngelinaCat]

From what I understand about being on a joint account--our g-daughter's for the purpose of cashing one check only--if you are on a joint account, you need to kill it and have done so at least 180 days before you filed. Now, as you have NEVER been on the two accounts you mentioned, there should not be a problem, unless you are in a Community property state.

Good luck.