Thursday, August 18, 2011

If my husband an i both file for bankruptcy do we pay the lawyer 2 ...

or just one?i also havent been making my college loan payments on a regular basis. if after my bankruptcy i start making them on a regular basis am i ok? will my creit improve?

If you are living together and share the debts, it will be like filing taxes with the IRS. you file jointly as a family unit. one lawyer, one fee. When you married, your debts along with your husband's debts become joint debts.

There are two types of bankruptcies.
Ch 7 it total bankruptcy. all debts are cleared except the ones you reaffirm ? intend to pay.

Ch 13 is a repayment plan for all of your debts. None of them are cleared.

Bankruptcies are damaging to your credit. Ch 7 is most damaging, Ch 13 is viewed as less damaging because you are making an effort to accept responsibility for your debts.

Source: http://www.financetalkinghub.com/if-my-husband-an-i-both-file-for-bankruptcy-do-we-pay-the-lawyer-2-fees.html

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