How will my boyfriends bankruptcy affect me? 11 Answers as of March 22, 2011

My ex-boyfriend is filing a chapter 13 bankruptcy. We have a house in both of or names. How does this effect me and my credit?

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Benson Law Firm
Benson Law Firm | David Benson
It may affect you if your name is on the obligation and it does not get paid. Otherwise, there should be little or no effect to your credit.
Answer Applies to: Ohio
Replied: 3/22/2011
Indianapolis Bankruptcy Law Office of Eric C. Lewis
Indianapolis Bankruptcy Law Office of Eric C. Lewis | Eric Lewis
Your boyfriend's bankruptcy has no implication at all with you or your credit.
Answer Applies to: Indiana
Replied: 3/16/2011
The Law offices of Cheryl L. Sommers
The Law offices of Cheryl L. Sommers | Cheryl L. Sommers
It will not have any effect on your credit. As far as you personally, when a person files a Chapter 13, their earnings and bills are handled by the Trustee depending on the Chapter 13 plan that is put in place.His plan should include him making the regular monthly mortgage payments outside of the plan.If there is arrears on the mortgage which are to be paid in the Chapter 13 plan, this will, of course,effect you and your credit. Hope that helps!
Answer Applies to: California
Replied: 3/16/2011
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
It does not affect you.
Answer Applies to: California
Replied: 3/14/2011
Law Offices of Michael J. Berger
Law Offices of Michael J. Berger | Michael J. Berger
Your credit will not be affected by your boyfriend's bankruptcy filing. His bankruptcy will appear on his credit report, not yours, as bankruptcies are tracked by the social security number of the individual that filed the bankruptcy. However, your boyfriend's bankruptcy may affect the house that you have in both of your names. This home could be lost in foreclosure if payments are not made per the Chapter 13 plan confirmed by the Court (if a plan is confirmed), or per agreement with the lender, if there is no confirmed plan, or if the lender seeks and gets relief from stay.
Answer Applies to: California
Replied: 3/14/2011
    Burnham & Associates
    Burnham & Associates | Stephanie K. Burnham
    Unless you have joint debt that is defaulted on, there should be no affect to your credit. Your liability will not be discharged and you will remain obligated under all debt and terms of your creditors. You may want to consult with a lawyer to ensure that you get a full picture of any issues that may arise.
    Answer Applies to: New Hampshire
    Replied: 3/14/2011
    Ferguson & Ferguson
    Ferguson & Ferguson | Randy W. Ferguson
    He should ask his attorney. If you are on the house, you are on the hook for the house. If he is keeping the house, it should not hurt you.
    Answer Applies to: Alabama
    Replied: 3/14/2011
    Carballo Law Offices
    Carballo Law Offices | Tony E. Carballo
    It should not affect your credit score but you might have difficulties making house payments by direct deposit for a while. I do not know why he filed a Chapter 13 but one common reason that is because the house payments are behind and he wants the opportunity to make those payments over a period of three to five years in a Chapter 13 Plan. There are many other reasons for filing a Chapter 13 so it is impossible to know what is going on in his case. Usually the house payments are made outside the Plan (direct payment) but you will probably have to mail a check every month for a while until you can work out other arrangements with the bank. The loan will be transferred to the bankruptcy department of the bank. You might even stop getting statements. That does not mean you do not have to pay.
    Answer Applies to: California
    Replied: 3/14/2011
    Diefer Law Group, P.C.
    Diefer Law Group, P.C. | Abel Fernandez
    If you do not file for bankruptcy, it will not affect you. Bankruptcy only affects the person who files.
    Answer Applies to: California
    Replied: 3/14/2011
    The Law Office of Brian Nomi
    The Law Office of Brian Nomi | Brian H. Nomi
    The fact that the ex boyfriend filed bankruptcy will not affect you at all. If you have a house in both of your names (and loan too, presumably), the loan must be paid. If it's not, then that non-payment of a loan in your name will affect your credit negatively.
    Answer Applies to: California
    Replied: 3/14/2011
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