Wife bankruptcy and home own just by me.

[salata87]

I'm looking for advice in matter like that. My wife planning to file bankruptcy petition and I would like to know how his bankruptcy could affect investment property which I own just in my name. All ours credits are separate from each other. Not simple loan or credit card is own jointly. We are living separately for couple years but never filed for divorce. We do our taxes jointly. Thank you for yours answers.

[newbie2]

It won't affect you at all if nothing you have is jointly held or if you are not a co-signer on anything with her. Keep an eye on your credit reports though the first couple of months after her bankruptcy, mistakes do happen and you can have it corrected.

[helpmeout]

If Illinois is a community property state, you may have an issue with your assets as any asset acquired during the marriage is joint. And given that you have not separated your finances completely (filing a joint return is an indication of this), you probably should consult with a BK attorney to see where you stand.