How will Filing for Bankruptcy Impact Your Spouse?

One of the most pressing questions people have when they are married and filing for bankruptcy is if their husband or wife will be affected by their filing. In the United States, husband and wives are not affected by their spouses' Chapter 7 bankruptcy filings if they are not responsible for any of their spouses' debt.

However, if they have a supplemental credit card or they share debt, husband or wives may be affected by their spouses' bankruptcy filings.

In some states, community property laws allow a spouse to accumulate debt without the consent of his or her husband or wife. The debt is then considered marital property.  Still, there are a few exceptions to the rule. For example, if one spouse wanted to purchase real estate, the spouse would need the signature of the husband or wife. Yet, credit cards do not require both spouses' signatures.  Community property states include Arizona, Idaho, California, Nevada, New Mexico, Texas, Washington and Wisconsin.

If you have additional questions about how bankruptcy will impact your spouse, contact our law firm and speak with a San Antonio bankruptcy lawyer.