How will my bankruptcy affect my spouse’s credit?
Posted by | Posted on 19-07-2010
Generally, your debts are your debts only and only you are responsible for them. If you file for bankruptcy, your spouse is not responsible for your debts and will have no effects on your spouse.
Generally, married couples maintain two separate credit records and histories, so therefore, if only one spouse files for bankruptcy, it will not affect the other and his/her credit rating will not be affected. However, if your spouse co-signed or guaranteed your debt or if your spouse shares a joint account with you, then s/he will also be affected since this would become his/her debt too.