Spousal Seperation & Debts

[Needing Help]

My wife and I have legally seperated. On paper, I have taken some of our debt, and she has taken some of the debt.

If I file bankruptcy with the debts that have been deemed "mine", can they still go after her for the money? How about the reverse?

Also, does the same rule apply if we were BOTH guarantors of a large business loan? I have taken that debt in the seperation agreement. Can the bank still go after her?

[CindyLou]

two most important questions:
What state do you live in?
What names are the debts in?

[needafreshstart]

If the debts are joint, yes they can go after the other spouse. You really need to speak to a lawyer in your area about this as well. With the new bankruptcy laws if the seperation agreement said anything to the effect of the debt taken by either spouse is considered domestic support. Then the spouse can object to the discharge of that debt and you may still be obligated to pay on it or you may have to pay alimony to her to cover additional payments she may take on. How does your spouse feel about filing bankruptcy, she will more than likely have to eventually file as well if the debts are joint, or make those payments. At least that is what I was told by lawyers in my area.