Legal Question in Bankruptcy in California
bankrupcy
I was previously married and aquired around $11,000 debt. I sold my home to pay some off, & this is what I still owe.(the marriage ended in his passing away to cancer) What I was wondering was if I was to remarry w/out filling bankrupcy, will he be liable for my past debts?
3 Answers from Attorneys
Re: bankrupcy
No. However, a bank account held with your prospective husband could be levied if you are listed as an owner of the bank account.
Re: bankrupcy
Your new husband will not be liable, however any joint asset that you have together could be in jeopardy. I think it will be a good idea for you to resolve your debts before you marry. If you wait until later, your husband's
income might be enough to disqualify you at that time should you then want to file bankruptcy. Please go and see a good local bankruptcy attorney right away for advice about whether to file now.
Re: bankrupcy
Not directly, but indirectly, yes. A creditor cannot sue a person who did not sign for the debt, i.e. your husband to be. However, after the creditor obtains a judgment, he can seize what is called "Community Property." Community Property is considered to be anything and everything owned by either the husband or wife of a marriage. This usually translates into the creditor levying against your husband's bank account held solely in his name.
There are ways to protect your husband's assets, however. Probably the best way would be to enter into a prenuptial agreement which identifies certain assets, like his bank account, as separate property.