Legal Question in Bankruptcy in Michigan

Marital assets

I am recently remarried and my new husband and I purchased a new house. I also have a car I am paying for. My credit card bills (mostly used prior to marriage) are getting out of control. I am looking at filing bankruptcy. If I include in the bankruptcy only my credit cards, how will that affect my house and car. Basically, my house that I own with my husband and my car are my only assets. All other things, such as furniture, have been purchased by my husband since marriage.


Asked on 8/23/01, 9:08 am

1 Answer from Attorneys
David McDonagh

Re: Marital assets

Once you file a bankruptcy petition and the case is commenced a new entity called an estate is created. The estate would consist of all of your interests in property including your marital assests, as of the date the petition was filed. I would suggest that you seek the advise of an attorney before preceeding with bankruptcy. There may be ways to work with the credit card companies to reduce your debt.

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Answered on 8/26/01, 12:17 pm


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