Legal Question in Bankruptcy in Texas

will i lose my home and vehicle if i file bankruptcy?

i'm going through a divorce right now their is a good chance i will be awarded all the debts incurred in the marriage. if i file bankruptcy after the final decree will i lose my home and vehicle? will me filing effect her credit as well?


Asked on 11/14/00, 10:18 pm

1 Answer from Attorneys
Lawrence Maun Lawrence J. Maun, P.C.

Re: will i lose my home and vehicle if i file bankruptcy?

I assume that you still owe money on your home and that your wife as well as yourself signed the note. If you file Chapter 7 Bankruptcy you will have to reaffirm the debt on your home to keep it. Your wife's credit rating would be affected if you are behind on payments on the loan, but your bankruptcy should not affect her credit. She will remain liable on the house note unless the lender releases her.

Read more
Answered on 11/28/00, 10:50 am


Related Questions & Answers

More Bankruptcy Law questions and answers in Texas