Legal Question in Consumer Law in Massachusetts
My wife has racked up ghastly amounts of credit card debit. However, her accounts do not have both of our names on them and I, therefore, am not able to negotiate debt settlements and reduce payments. Is it possible for her to declare bankruptcy without it having an effect upon my credit? Can she declare bankruptcy for herself in other words?
Thank you for the help.
2 Answers from Attorneys
It is not necessary for both spouses to declare bankruptcy if only one has the debt. It is difficult, at best, to say whether her bankruptcy case would affect your credit, as the credit reporting agencies keep their methods secret as much as they can. I would say that her bankruptcy PROBABLY would not affect your credit, but you can't be sure.
There are 2 obligations here. First, a marital and the second is contractual.
You may have an obligation in a divorce action, but probably not individually.
You may also want to consult a bankruptcy attorney.
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