Separated and worried about the effects of bankruptcy on your spouse.
Does this sound like you?Heather Kates and her husband are separated. Heather's husband has some credit card debt in his name, and Heather has some in her name, as well as a co-signed loan for a car. Heather's husband is considering filing a proposal or bankruptcy but isn't sure how it will affect her and the kids. What will Heather be responsible for?
What can you do?
Effects on a family member are one of the most common concerns from those considering bankruptcy or a proposal. The debts that should be of concern are those that have been co-signed. If your husband or wife files a proposal or bankruptcy, they will be cleared of all debts; however, you will be responsible for any debts you co-signed. It is highly advised that you contact a licensed bankruptcy trustee to review this situation with you. To find a licensed bankruptcy trustee, click here.
posted by Questions @ 5:14 PM
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