Does filing for Chapter 7 Bankruptcy affect my spouse?

Filing for Chapter 7 Bankruptcy in Virginia can affect a spouse, but in most cases, it is not as drastic as many people think. In Virginia, filing for Chapter 7 Bankruptcy does not require both spouses to file together. Therefore, if only one of the spouses files, the other spouse does not have to be involved in the bankruptcy proceedings. However, a spouse can be impacted in certain ways. Since any joint debts need to be included in the bankruptcy, a spouse’s credit may be affected. In some cases, creditors may choose to pursue payment from the non-filing spouse if the filing spouse is unable to pay the full amount. Additionally, if the spouse is a co-signer on any of the debts included in the bankruptcy, they could be held responsible for paying off the balance. Furthermore, an important point to note is that if the filing spouse lists the cooperative debts in their bankruptcy filing, the non-filing spouse cannot be pursued for any payments that were due after the filing. This means that the filing spouse is solely responsible for any payments that were due after they filed for Chapter 7 Bankruptcy. Overall, filing for Chapter 7 Bankruptcy in Virginia can affect a spouse, but in most cases, the impact is minimal. It is important to speak with a bankruptcy attorney to find out the full extent of how filing for bankruptcy can affect a spouse.

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Does filing for Chapter 7 Bankruptcy affect my spouse?

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