Filing for Bankrutpcy and Consequences on Spouse's Credit

Read full question
Bill's Answer
4.0
/5.0
(6 Votes)
Bills.com Team
Pro

By

Bills.com | Find Learn Save

4 Comments

Recent Best
1500 characters remaining
  • KS
    May, 2011
    Kutlwano Zizipho
    If I apply for debt counseling/review/consolidation will it affect my husbands credit sore/rating?
    0 Votes

    • BA
      May, 2011
      Bill
      Your spouse's credit score is not affected by the status of accounts held in your name only. Do you share any joint credit accounts? If not, there is no effect at all on your spouse's credit rating.

      Debt review will have no negative effects on your credit score. Credit counseling may affect your credit score. A consolidation loan should not have a negative effect, if you pay off the loans/credit accounts that you are consolidating.
      0 Votes

  • BA
    Apr, 2009
    Bill
    Please go through http://www.bills.com/debt-consolidation/ to learn about the various options when it comes to consolidating your debt. Bankruptcy is a serious issue and should only be considered as a last resort and after you have consulted with a bankruptcy attorney.
    0 Votes

  • 35x35
    Apr, 2009
    Rich
    My wife and I are both on pensions and considerably in debt. I know that the law states that you can not garnish a pension so being as I no longer have any money other than the pension and no equity left in my home why should I file either bankruptcy or debt consolidation?
    0 Votes