Legal Question in Bankruptcy in New York

Spouse filing Chapter 7.

My spouse is preparing to file a Chapter 7 Bankruptcy petition. His filing is based solely on his personal debt. I know with the procedure of filing it is required that household expenses as well as income be included. Will this in any way affect my personal credit?


Asked on 5/20/08, 4:19 pm

1 Answer from Attorneys
Nancy Delain Delain Law Office, PLLC

Re: Spouse filing Chapter 7.

Yes and no. No because you are not involved in the bankruptcy proceeding and it will not show up on your credit record. Yes because any bankrupted debt on which you are cosigner becomes your sole responsibility and, while those creditors cannot go after your spouse for payment, they can indeed come after you.

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Answered on 5/21/08, 7:23 am


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