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Can I file Chapter 7 bankruptcy without my spouse? |
I want to file Chapter 7 to totally get rid of my debt. The only problem is my spouse doesn't agree with this, so I would have to file by myself. I have 5 credit cards in my maiden name and 1 credit card in my married name. My medical bills are in my married name. As far as my assets, my name is on the house but not on the mortgage. My name is also on the two cars that we own. Can I file Chapter 7 bankruptcy without the cars and the house being affected? If I can't file by myself then what else can I do? Nope - you are inseperable in the eyes of the court and creditors If the house and cars are in both names you shouldn't file for bankruptcy alone. Find your local CCCS and work out a payment plan with your creditors. call an attorney who specializes in that field Nope. When the new bankruptcy laws went into effect in October of 2005 filing separate from your spouse went out the window. You have two cars and a house? Sell one of your cars or take out a second mortgage if you have enough equity. Or you can take out a loan with citibank, or some other institution (stay away from chase) for the amount you owe. Use the money to pay off your credit cards and then you have one payment to make every month. The bank loan. This last solution was the only way I was able to fix my stupid husband's credit. Took out a loan for the exact amount he owed. Not a penny less or more. Paid everything off and he took care of the monthly payments. yes you can but they will go after your husband for anything that you both have your name on. The most popular solutions to the problem of heavy debt burden is to get a debt settlement or file for bankruptcy. Among these two debt settlement is preferred as it has a relatively less impact on credit report. In this article we assess the benefits and drawbacks of debt settlement. Debt settlement is a process in which an organization will go to your lenders and negotiate with them regarding your debt. The purpose of the whole exercise is to reduce your debt burden. If a settlement company is good it can get your debt reduced by as much as 50%. This is what a creditor needs and this is the most visible benefit of debt settlement. The amount of the debt is reduced, the repayment plan is made easy and often the monthly installments are spread over a long period. This makes life a lot more easier for the borrower. However, debt settlement is not without its drawbacks. There are two things to worry about. First, is the cost of debt settlement. Debt settlement companies will charge huge amounts for their services. The usual range is between 10-15% of the debt amount. Paying this much amount upfront can turn your financial situation from bad to worse. Read more from: http://www.credit-card-gallery.com/credi... Hi. You can file separately. Any debt you owe HAS to be listed in the bankruptcy, however you will be able to keep the home and the vehicles as long as you continue to make the payments. If you file bankruptcy, your legal obligation to repay the debt is eliminated, but any debt jointly accumulated means that your husband will then be legally responsible for. |
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