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#1
08-20-2006, 03:42 PM
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Community Property Debts in TXWhat is the name of your state? Texas I am filing for Ch. 7 in the Eastern District of Texas. I have 1 unsecured credit card account that I opened 3 months before I married and another card 2 months after I married. I also have a secured debt that is a car I financed shortly after marrying. All of these accounts were opened in my name with my signature only and my wife is not present on any of the applications or accounts. I want to file for bankruptcy by myself and leave my wife and her credit out of this mess. Now since Texas is community law I know that even though my wife is not listed on these accounts these debts were acquired during our marriage which would make them 50/50 correct? And if this is true and I file for Ch. 7 do I have to list her as co-debtor? When my discharge is finalised have I just allowed the creditors to come after her for her 50% ? Can and how do I file so that my wife's credit is not harmed and so that she is not later held responsible?  |
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#2
08-20-2006, 08:15 PM
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| Any debt incurred PRE-marriage will be YOUR debts only... ANY debts incurred AFTER you were married, is CO-DEBT... Meaning: Should YOU file for BK, your creditors would go after your wife for the FULL AMOUNT... NOT just %50... Shre is considered %100 legally liable for said debts... Any Bk on your part would directly affect her... Should she fail to pay off the creditors, it WILL affect her credit too... Best to both file...
__________________ Tenant Advocate "Alaska landlord" has been permanently banned for providing inaccurate, misleading & potentially dangerous advice. Any of AL's previous posts should be heavily verified by a competent Real Estate Attorney. Quote:
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#3
08-21-2006, 07:09 PM
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| Well.. not exactly. The BK law does provide for community property states. The non-filing spouse is protected under the BK law as long as the 'community' exists. Unless your wife is ON these accounts, she is not, legally, a co-debtor in the strictest sense of the term. Your BK should not show up on her reports, although it COULD. All she would have to do is dispute with the credit bureaus to get rid of it.
__________________ "Knowledge is Power - use it as you see fit ! I am not a lawyer or a member of the legal profession. My advice is based on research and experience, my own and others, some who practice law. You decide for yourself what actions you do or do not take from my advice. |
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#4
08-21-2006, 07:24 PM
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| 11 U.S.C. §524(a)(2) states that a discharge operates as an injunction against a pre-petition creditor's action post-petition to recover anything from community property acquired after the petition date. So, generally speaking, your wife's share of the community property is safe from creditors. As for your bankruptcy showing up on her credit report, such would be false reporting because she isn't a debtor, and it would subject the reporting agency to sundry penalties. |
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