How will my wife filing for bankruptcy affect me? 13 Answers as of August 22, 2012

I'm planning on divorcing my wife. I'm in the process of buying a home out of state. She now tells me that she intends to file for bankruptcy. How will this affect me if I obtain a home? Can the creditors seize my home if I'm out of state and living in it?

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Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
Her bankruptcy should have nothing to do with you unless.... You are using community funds as down payment on the new house. I'd see a lawyer if I were you.
Answer Applies to: California
Replied: 8/22/2012
Selleck Legal, PLLC
Selleck Legal, PLLC | Stacey Selleck
So long as the home is solely in your name, your wife or ex wife filing for bankruptcy will not affect you.

Answer Applies to: Michigan
Replied: 8/22/2012
Steven Alpers | Steven Alpers
The creditors will come after you if there are joint accounts for payment in full. If they are her separate debts you are okay. Each state has different exemption laws contact a lawyer where you are buying the house.
Answer Applies to: California
Replied: 8/22/2012
MckennaLaw | Keven A. McKenna
It should not impact you unless the mortgage note holder accelerates and is allowed to foreclose on the property and you have to pay the deficiency nown for the failure of the foreclosure value to cover the note.If you are living in the house, then if the foreclosure is valid, you will be evicted. Many foreclosures are invalid.
Answer Applies to: Rhode Island
Replied: 8/22/2012
Danville Law Group | Scott Jordan
No. Your wife filing bankruptcy should have no affect on your ability to purchase property.
Answer Applies to: California
Replied: 8/22/2012
    Law Office of Stuart M. Nachbar, P.C.
    Law Office of Stuart M. Nachbar, P.C. | Stuart M. Nachbar
    As long as she is not on the Property title, you can not be held liable. If there are marital debts that you will be responsible for, and they obtain judgments, they could put a lien on the new property. Make sure you have representation for your matrimonial, and advise that counsel of her intention to file.
    Answer Applies to: New Jersey
    Replied: 8/22/2012
    T.K. Byrne | Timothy K. Byrne
    It will not affect you unless you have joint debts. Then you will be responsible for these joint debts if she has them discharged.
    Answer Applies to: Mississippi
    Replied: 8/22/2012
    The Michigan Bankruptcy HQ
    The Michigan Bankruptcy HQ | Joseph P. Saulski
    Complicated and this needs to be addressed by your divorce attorney. Discussion: Generally, your ex-wife's filing of bankruptcy will not affect your ability to buy a house or subject any property owned by you to claims from your ex-wife's creditors. However, if you have joint debt with your ex-wife or if your wife in the divorce judgment agreed to take care of certain debts, if not properly protected, those debts may come back to you for payment. Only debts of your ex-wife incurred from the divorce that are domestic support obligations are not dischargeable in bankruptcy. As such, it is important for your divorce attorney to structure the divorce to incorporate the use of domestic support obligations as much as possible.
    Answer Applies to: Michigan
    Replied: 8/22/2012
    The Law Office of Darren Aronow, PC
    The Law Office of Darren Aronow, PC | Darren Aronow
    If it is not an asset of hers, then they should not be able to seize, however if it is a part of the marital assets in the divorce, it may come into play on the bankruptcy if there is equity in it.
    Answer Applies to: New York
    Replied: 8/22/2012
    Bjork Law Office
    Bjork Law Office | Attorney John P. Bjork
    Yes, it will affect you. You should work with your wife's bankruptcy lawyer on the timing of that bankruptcy filing.
    Answer Applies to: Wisconsin
    Replied: 8/22/2012
    Musilli Brennan Associates PLLC
    Musilli Brennan Associates PLLC | John F Brennan
    You should consult with an attorney on the divorce and financial issues now. If she bankrupts you will still be liable on our personal as well as joint debts. She will be potentially discharged on the joint debts.
    Answer Applies to: Michigan
    Replied: 8/22/2012
    Law Office of Lynnmarie A. Johnson
    Law Office of Lynnmarie A. Johnson | Lynnmarie Johnson
    If you are on a mortgage on a house here and she files bankrupt cy on it, you would be responsible for the payments on the house here. If you have not obtained the mortgage on the new house, it may be that being solely responsible for the payments here will put your debt level too high to get a new mortgage. If you have any other joint debt that she files bankruptcy on, they can come after you for the money owed. Generally they cannot take the house you have out of state because presumably it will have a mortgage on it also.
    Answer Applies to: Michigan
    Replied: 8/22/2012
    Law Office of Pho Ethan Tran PLLC
    Law Office of Pho Ethan Tran PLLC | Pho Ethan Tran
    Your wife's bankruptcy should not affect your credit unless you are jointly liable for some or all of her debts. Were you a cosigner or guarantor on any of her debts?
    Answer Applies to: Texas
    Replied: 8/22/2012
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