Does filing for Chapter 7 Bankruptcy affect my spouse?

Yes, filing for Chapter 7 Bankruptcy in Virginia can affect your spouse. When an individual files for Chapter 7 Bankruptcy, all of their assets and debts become part of the bankruptcy estate. This means that any joint debts or assets that the individual and their spouse have are subject to the bankruptcy proceedings. In some cases, the individual’s spouse may be required to pay back some of the joint debts, even if they were not a part of the bankruptcy. In addition, any debts that are discharged through the bankruptcy (such as credit card debts, medical bills, and other unsecured debts) are not collectible from either spouse after the bankruptcy is complete. This means that the spouse who is not the debtor in the bankruptcy is not required to pay any of the discharged debts. Finally, by filing for bankruptcy, the individual’s credit score may be negatively affected. Since many couples share credit accounts, this can affect both the individual who filed for bankruptcy and their spouse. For this reason, any couple considering bankruptcy should speak with a qualified attorney before making a final decision.

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Does filing for Chapter 7 Bankruptcy affect my spouse?

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