Will my husband be able to obtain a loan while I am going through a bankruptcy? 14 Answers as of November 29, 2011
I filed for a chapter 7 bankruptcy and have two vehicles. One I am surrendering and one I want to redeem. The vehicle I want to redeem is in my husband's name and I am the co signer on it. If I cannot receive a redemption loan, will my husband be able to obtain a loan while I am going through bankruptcy? He is not included in the bankruptcy as I filed individually. Is he free to do as he pleases without it affecting my bankruptcy? I have my meeting of creditors soon.Free Case Evaluation by a Local Lawyer!
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Moore Taylor & Thomas PA | Jane Downey
Your right to redeem will not impact your husband's obligation on the car loan. Your bankruptcy should not impact his credit if he continues to pay his debts including those that are joint.
Answer Applies to: South Carolina
Replied: 11/29/2011
The Barger Law Firm | Jason W. Barger
Your bankruptcy will not affect his credit nor his ability to borrow individually.
Answer Applies to: Texas
Replied: 11/21/2011
The Law Office of Darren Aronow, PC | Darren Aronow
Yes, if his credit is fine, then he can get a car. His loan will not affect your bankruptcy.
Answer Applies to: New York
Replied: 11/21/2011
Ashman Law Office | Glen Edward Ashman
I am really perplexed. You should not even be in bankruptcy without a lawyer, and you certainly should not be looking at redemption loans without experienced counsel. Since your assets all belong to your estate and not you, you cannot simply let your husband take over without taking certain legal steps.
Answer Applies to: Georgia
Replied: 11/19/2011
A Fresh Start | Sean P. Fleming
You will be able to reaffirm on the car as long as you can show that you can afford the monthly payments. Your husband will not need to worry about taking out another loan.
Answer Applies to: Illinois
Replied: 11/18/2011
Bankruptcy Law office of Bill Rubendall | William M. Rubendall
If you file bankruptcy your debt as a co-owner is discharged. The primary borrower is still liable
Answer Applies to: California
Replied: 11/18/2011
Weber Law Firm, P.C. | William Weber
Your bankruptcy filing should not be an impediment to your spouse's loan application.
Answer Applies to: Texas
Replied: 11/18/2011
Mazyar Hedayat and Associates | Mazyar Malek Hedayat
The short answer is: Yes, your husband can get a loan while you are in bankruptcy. The more complete answer will involve a careful examination of your finances, but in nearly all cases the bankruptcy of one spouse need not affect the credit standing of the other spouse.
Answer Applies to: Illinois
Replied: 11/18/2011
Charles R. Nettles - Attorney at Law | Charles R. Nettles
Your husband is free to do whatever he wants to about incurring debt while you are in bankruptcy. I can't say whether or not, he will qualify for a loan but there is nothing stopping him from trying.
Answer Applies to: Texas
Replied: 11/18/2011
The Schreiber Law Firm | Jeffrey D. Schreiber
Only if he can qualify for credit based on his own income and credit and does not need to use your income to qualify.
Answer Applies to: California
Replied: 11/18/2011
Law Offices of Daniel Moulton | Daniel Moulton
The chapter 7 shouldn't prevent your husband from obtaining credit, but no one has a right to obtain credit.
Answer Applies to: Illinois
Replied: 11/18/2011
Indianapolis Bankruptcy Law Office of Eric C. Lewis | Eric Lewis
Your bankruptcy does not affect your husband's credit and he is free to obtain a loan while your bankruptcy is open and pending.
Answer Applies to: Indiana
Replied: 11/18/2011
D T Pham Associates, PLLC | Duncan T Pham
You can reaffirm your car loan for the vehicle in your husband's name as long as you feel comfortable that he can continue to make payments on it.
Answer Applies to: Texas
Replied: 11/18/2011
Siegel & Siegel, P.C. | Sharon M. Siegel
He is free to do as he pleases, but the joint debt in bankruptcy will impact his credit score slightly, and in that, could prevent him from getting some loans.
Answer Applies to: New York
Replied: 11/18/2011
