I filed CH 7 a l-o-n-g 7 years ago. Before marriage. My hubby and I have a home, the mortgage is in his name only. The Deed states "survivorship" with me on it. So if my husband were to file CH 7, would it affect me since I am listed that way on the deed? Anyone know if this is accurate? I have read that even though I am not on the mortgage, if I am listed on the deed than I am taking equal responsibility for the property.
We really want him to file a CH 7. If I am some how responsible if he defaults on the loan, we would have to do a 13 together. I really dont want to do that. The plan is to include the home on the bankruptcy....and I cant afford to squeeze out anything for a CH 13 repayment. We have $14000 in credit card debt right now! Not to forget the very important fact that I have worked very hard at rebuilding my credit over the years only to destroy it once again. As of now, all the bills that would be included are in my husbands name only.
Thoughts? I know this post is all over the place, sorry. I am stressed!
We really want him to file a CH 7. If I am some how responsible if he defaults on the loan, we would have to do a 13 together. I really dont want to do that. The plan is to include the home on the bankruptcy....and I cant afford to squeeze out anything for a CH 13 repayment. We have $14000 in credit card debt right now! Not to forget the very important fact that I have worked very hard at rebuilding my credit over the years only to destroy it once again. As of now, all the bills that would be included are in my husbands name only.
Thoughts? I know this post is all over the place, sorry. I am stressed!