Legal Question in Bankruptcy in Massachusetts

Bankruptcy and marriage laws

I have gone to see an attorney with my family about filing bankruptcy. My parents co-own my mortgage, car loan, and a credit card and first plan to get them off the hook on the credit card and to keep the house and car after which I file bankruptcy within the next few months. I am planning to get married SOON, before the process is completed, will my new husband be held accountable for my credit debts in my name or the house or car loan held in both my name and parents name?


Asked on 1/08/00, 4:59 pm

1 Answer from Attorneys
Joseph Laumann Law Office of Joseph Laumann, PA

Re: Bankruptcy and marriage laws

You have many questions. AS for the home and car, these debts are not dischargeable because they are secured debt. You will either have to keep them (as you have indicated) or you will have to sell them and pay back the creditor. Your parents will remain on them until they are refinanced or paid off.

AS for the credit card debt, if you try to discharge the debt and your parents are co holders, they will be on the hook for the balance. Furthermore, if you have less than 10k in unsecured debt, I do not reccomend filing for bankruptcy at all.

I would reccomend seeking the advice of a local attorney before taking any further steps.

Good Luck

Read more
Answered on 1/17/00, 4:47 pm


Related Questions & Answers

More Bankruptcy Law questions and answers in Massachusetts