Legal Question in Bankruptcy in Maine

spouse filing for bankruptcy

my husband is filing for personal bankruptcy.

how will this affect joint loans and property?

can i have my name removed from jointly held loans that i now have found him to be deliquent in paying??

do we need to legally seperate before the actual filing date to protect me and joint property?? my credit is fine and i want no bad feedback because of him.

thanks for any help you can give me.


Asked on 7/03/03, 6:27 pm

1 Answer from Attorneys
Jerome Gamache Ainsworth Thelin & Raftice, P.A.

Re: spouse filing for bankruptcy

The filing of one spouse or joint debtor in Bankruptcy often causes the other party to ultimately file, because the affected creditors will continue to pursue their rights against the party who has not filed Bankruptcy. It is generally not possible to have one party's name "removed" from a joint loan, regardless of the reason. Therefore, even if it was understood by the joint debtors or spouses that one party was primarily responsible for a particular debt, if that debt goes into default, it will affect the credit of both.

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Answered on 7/07/03, 8:21 am


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