Q: i have a large credit card debt my husband is not aware of we own a home with 80 acreas of land can i file bankruptcy
i dont want him to know and i dont want to include our place
A: You must disclose all of your assets when filing bankruptcy. You cannot keep this from your husband because he is a co-debtor and Co-owner. He will get notice from the court if not from you. Break the news about the debt to your husband and figure out how to pay it off. Bankruptcy doesn’t appear to be a good option.
A: All assets must be included, and all debts. Further, you must include "Household income" for the past six months, so you will have to obtain that information if your spouse is employed. Better to come clean and deal with as a team.
A: This question defies a short linear answer. It's important to first know how much equity you have in the real property. If the property serves as your primary residence and you and your husband are both on the deed, the first $50,000.00 (roughly) in equity in the property would not be impacted in a bankruptcy. However, if you are on the deed to the property and there is considerably more equity than $50,000.00, you will likely need to consider filing for Chapter 13 protection to allow yourself time to repay the credit card debt in full over 5 years.
With this said, if you and your husband are joint debtors on any credit accounts, you are required to list him as a co-debtor on the indicated accounts. This will result in the court sending mail a number of times to his attention at the listed address.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.