How will filing for bankruptcy affect my spouse?

Filing for bankruptcy can have various effects on a spouse. The most common effect of filing for bankruptcy on a spouse is that their credit rating may be impacted. Depending on the type of bankruptcy filing, any debts that are jointly held by a husband and wife may be impacted, which means that both spouses may be responsible for paying off debts even if only one spouse filed for bankruptcy. Furthermore, filing for bankruptcy could potentially hurt a spouse’s employment opportunities, if their employer reviews credit and/or background information as part of the hiring process. In addition, filing for bankruptcy may also impact a spouse’s ability to receive government benefits, since these can take into account the financial status of both spouses. It is important to note that not all government benefits will be affected, however it is important to research how a bankruptcy filing may impact any current or future government benefits. Finally, in Kansas, filing for bankruptcy may also impact a couple’s future ability to purchase real estate since mortgage lenders will look at a couple’s joint credit score when determining whether or not to issue a loan. Therefore, when filing for bankruptcy, it is important for both spouses to consider the potential impacts that it may have on their spouse’s credit score and future employment prospects.

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How will filing for bankruptcy affect my spouse?

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