post bankruptcy marriage

[indeep59]

I filed and was discharged for a bk7 last year and now am planning on getting married. I was single at the time.
Will this affect my future spouse in a negative way? (besides the obvious, i.e. applying for credit in both our names,etc.)

If she for example applies for a car loan or something on her own?

She knows all about it so nothing was hidden or secret.

[SunshineGal]

Nope, your BK cannot effect her in any way other than applying for credit. The big one is the home loan, but in a few years it won't matter. Congrats!

[indeep59]

Hey thanks, that's what I figured but wanted to see if I was correct.
Yeah the home loan is all mine, bought the house before I met her. Not reaffirmed so we can bail if things get tough again, without damaging her, right? I'm thinking.

[SunshineGal]

That gets a little tricky because technically, a foreclosure will generally list anyone that lives in the house or may have an ownership interest in it. However, I don't think it will end up on her credit report, just listed as a party in the county records. I have no idea about IL law, but in FL your wife would have an ownership interest as soon as you are married. For instance, if you were to sell or refinance the house, she would have to sign off it.

[indeep59]

I don't care about that, as far as I'm concerned the house is half hers now anyway. I've already lost my investment in it and it's underwater, so if in the unlikely event it actually gains in value anytime soon I'm fine with it. As long as it doesn't screw up her credit, one of us with bad credit is enough!

[SunshineGal]

Hi Indeep,

I knew what you meant. It *shouldn't* end up on her credit report, but her name would most likely be listed on the foreclosure paperwork in the county records as a party to the suit, so thats what you want to watch for if you decide to walk from the house. Most likely she could get it removed since she wasn't responsible for any debt, just don't ad her name to the title.