How does filing for Chapter 7 Bankruptcy affect joint debts?

Filing for Chapter 7 bankruptcy affects joint debts in California in several ways. First, if you have co-signed a debt with someone else, a bankruptcy filing will relieve you from financial responsibility for that debt, as long as it is included in the bankruptcy filing. Second, if you have a joint debt with another person, and that person files for bankruptcy, the creditor can go after you for the full balance of the debt. Third, if you and your spouse file for Chapter 7 bankruptcy together, then the debts that are joint are discharged, meaning that you are no longer responsible for them. Finally, if you have joint debts with a person who is not related to you, or who is not a co-signer on the loan, then those debts may not be discharged in the bankruptcy. In that case, you and the other person are still responsible for paying the debt, even if one of you files for bankruptcy.

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How does filing for Chapter 7 Bankruptcy affect joint debts?

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