Does husband filing bankruptcy affect me on a joint account

[Lele316]

What is the name of your state (only U.S. law)? NY and also FL
Hi my soon to be ex husband is filing bankruptcy and has included in it a bank account that we had in the past jointly. Does him including this in his matters affect my credit rating or report? I would rather assume this debt completely then have a mark on my credit report due to what he is doing now. He currently lives in NY and filed for bankruptcy their and I reside in FL. Thank you for any help you guys can give me.

 

[latigo]

What is the name of your state (only U.S. law)? NY and also FL
Hi my soon to be ex husband is filing bankruptcy and has included in it a bank account that we had in the past jointly. Does him including this in his matters affect my credit rating or report? I would rather assume this debt completely then have a mark on my credit report due to what he is doing now. He currently lives in NY and filed for bankruptcy their and I reside in FL. Thank you for any help you guys can give me.

The first thing you should be doing is to speak with your lawyer to see if the debt can be treated in the divorce decree as such that it would fall under Section 523(a)(15) of the Bankruptcy Code.

(a)A discharge under section 727, 1141, 1228(a), 1228(b), or 1328(b) of this title does not discharge an individual debtor from any debt—

15) to a spouse, former spouse, or child of the debtor and not of the kind described in paragraph (5) that is incurred by the debtor in the course of a divorce or separation or in connection with a separation agreement, divorce decree or other order of a court of record, or a determination made in accordance with State or territorial law by a governmental unit;

 

[Lele316]

We do not have any lawyers we are getting a uncontested divorce...there is no money or debts to split up or anything besides this one and if him including this debt in his bankruptcy doesn't affect my credit then I don't really care but if it does then I would rather just deal with it myself.

 

[LdiJ]

We do not have any lawyers we are getting a uncontested divorce...there is no money or debts to split up or anything besides this one and if him including this debt in his bankruptcy doesn't affect my credit then I don't really care but if it does then I would rather just deal with it myself.

Its going to fall on you if he discharges it in bankruptcy, because the bank is not a party to your divorce and is bound only by the loan/account contract signed by the bank. So, in the end, most likely you will have to deal with it yourself.

 

[Lele316]

This is not a part of our divorce we are not listing and assets, debts or anything of the kind on our divorce because frankly we dont have any except our personally credit things that we are both just assuming as our own. This is from a bank account we had yrs ago that I had honestly forgot about. He is including it in his bankruptcy, which I am not a party too.

I understand what your saying about them coming to me and that is fine, I have no problem with that. It is money we owe plain and simple. My question is, does him including it in his bankruptcy and trying to deal with it at least on his end have a negative affect on my credit rating or score?

 

[Ohiogal]

This is not a part of our divorce we are not listing and assets, debts or anything of the kind on our divorce because frankly we dont have any except our personally credit things that we are both just assuming as our own. This is from a bank account we had yrs ago that I had honestly forgot about. He is including it in his bankruptcy, which I am not a party too.

I understand what your saying about them coming to me and that is fine, I have no problem with that. It is money we owe plain and simple. My question is, does him including it in his bankruptcy and trying to deal with it at least on his end have a negative affect on my credit rating or score?

You having an outstanding debt that you have not dealt with impacts your credit score. You not doing anything about it impacts your credit score. And quite frankly, in a divorce you need to list debts and assets. Why you think you would not have to deal with that is at best silly.

 

[Lele316]

I never said I wouldn't have to deal with it it was an oversight from years ago which honestly didn't even show up on the credit report I ran for myself hence why I forgot. I know it has already affected my credit as an unpaid debt. However does allowing him to include this in his bankruptcy put a bankruptcy record on my credit?

 

[Ohiogal]

I never said I wouldn't have to deal with it it was an oversight from years ago which honestly didn't even show up on the credit report I ran for myself hence why I forgot. I know it has already affected my credit as an unpaid debt. However does allowing him to include this in his bankruptcy put a bankruptcy record on my credit?

You are not declaring bankruptcy so it should not be present on your credit report.

 

[latigo]

Its going to fall on you if he discharges it in bankruptcy, because the bank is not a party to your divorce and is bound only by the loan/account contract signed by the bank. So, in the end, most likely you will have to deal with it yourself.

I’m sure it would be comforting were the bank to be made aware that its account receivable is not in jeopardy inasmuch as “it is not a party” to the divorce – (as you so fatuously have noted).

Now, would you care to suggest any set of circumstances whereby the bank could have been made a litigant in the divorce case either by voluntarily intervening or through third party practice?

Even if somehow joined as a party, how could its creditor rights against the principal litigants be adversely affected by any ruling in the divorce case?
______________

Also curious is this likewise seemingly pointless observation:

Its (sic) going to fall on you if he discharges it in bankruptcy . . . .

Is it not her debt regardless?!

 

[Lele316]

OK Thank you Ohiogal. Have a good night ladies.