Will Bankruptcy Affect My Spouse?
Today a prospective client asked me whether or not her filing bankruptcy would negatively affect her spouse. This is a common question. A spouse's bankruptcy will not affect the non-filing spouse in terms of credit. It will not have an adverse effect on the non-filing spouse's credit. However, there is a possibility that assets that were once only his or hers, could now be considered as joint assets, so possibly there could be an effect as to assets. Also, there are income limitations in bankruptcy, so the non-filing spouse's income does have be counted and accounted for in the spouse's bankruptcy. Adam Brown is a bankruptcy attorney for Dexter & Dexter, a debt relief agency helping people file for bankruptcy.