If my husband files bankruptcy but I don’t, can they mess with our house? 8 Answers as of June 05, 2017

My husband has incurred a lot of unsecured debt. He wants to file bankruptcy and I do not. Our house is in both of our names and has about $50,000 equity. Can they make us sell our house or put a lien against it if he files and I don't?

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Ronald K. Nims LLC | Ronald K. Nims
In Ohio, there is a $132,000 exemption for your residence. So, they can't do take your home or put a lien against it.
Answer Applies to: Ohio
Replied: 6/5/2017
GARCIA & GONZALES, P.C.
GARCIA & GONZALES, P.C. | Richard N. Gonzales
If you have $50K in equity, you have nothing to worry about. You may want to double check your numbers. If I were you, I would pay an experienced BK Lawyer for one hour of their time to properly guide you. You could be creating a number of issues for yourselves otherwise.
Answer Applies to: Colorado
Replied: 6/5/2017
Charles Schneider, P.C.
Charles Schneider, P.C. | Charles J. Schneider
Yes.
Answer Applies to: Michigan
Replied: 6/5/2017
A Fresh Start
A Fresh Start | Dorothy G Bunce
MESS WITH OUT HOUSE is sort of a vague term. There may already be a lien against your home if you and your husband have failed to record a declaration of homestead with the county recorder. In Nevada, it is possible to exempt up to $550,000 in equity in a home if you have owned it for more than 3 years.
Answer Applies to: Nevada
Replied: 6/5/2017
Richard B. Jacobson & Associates, LLC | Richard B. Jacobson
First things first: retain an experienced bankruptcy lawyer in your locality. It's almost always worth the investment. Second, what are the exemptions available to you? (Some states have their own exemptions, which apply in and out of bankruptcy; others use the federal list in 11 USC sec. 522). In general, you are entitled to one-half the homestead exemption, but the situation can get complicated, e.g. if you live in a community- or marital- property state. It's unlikely that anyone who is not It's unlikely that anyone who is not your creditor can place a lien on your presumable one-half interest in the real estate. It's not unusual for one spouse to file, and the other, usually with a better credit score, does not. But it's important to do as you are now doing, and explore the consequences. Again, a good local BR lawyer is your best bet.
Answer Applies to: Wisconsin
Replied: 6/5/2017
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