Bankruptcy Law Questions? Ask a Bankruptcy Lawyer Now.
There is no such thing as filing for bankruptcy as "married." A person files by themselves, or jointly with their spouse -- marital status is irrelevant to the bankruptcy petition.
If your spouse files alone, then any jointly held property or debt can be reached by the bankruptcy trustee for the satisfaction of unsecured creditors.
Your income is not a factor in paying your husband's creditors.
Reaffirmation of jointly-held debts is possible.
Re creditors calling notes due, an unsecured note is wiped out. A secured debt permits the creditor to foreclose/repossess the secured property. Most creditors don't go after the secured property, unless the payments stop.
Finally, GA law provides an important presumption concerning marital property and debt: § 19-3-10, states: "A married person may make contracts with other persons; but, when a transaction between a husband and wife is attacked for fraud by the creditors of either, the onus shall be on the husband and wife to show that the transaction was fair. If a husband or a wife has a separate estate and purchases property from persons other than his or her spouse, the onus shall be upon a creditor levying on such property as the property of the other spouse to show fraud or to show that the husband or wife did not have the means with which to purchase the property."
What the above-quoted statute means, is that if the bankruptcy trustee or a creditor believes that you and your spouse have arranged your finances so that he has all the liabilities and you have all the assets, then they can try to convince the court that a fraud is being purpetrated and the bankruptcy will simply be dismissed, leaving you both to the wolves/creditors.
So, while I'm certainly not accusing you of any funny business, it's something that you need to discuss with a local bankruptcy lawyer, because you may decide that a joint bankruptcy is a better plan.
Hope this helps.
Terms and Conditions: By your continuing in this conversation with me, or by your clicking “Accept”, you are expressly agreeing to all of the following: (1) our communication is for entertainment purposes only; (2) you are not consulting me in my professional capacity as an attorney; (3) you do not seek to establish an attorney-client relationship with me, nor do I with you; (4) you will not rely on anything I say and you will obtain appropriate legal counsel via a traditional/office consultation with an attorney licensed to practice in the jurisdiction where your legal issue arises (and you may not use our communication to avoid taxpayer penalties imposed by the U.S. Dept. of Treasury); (5) by communicating with me in this public forum you are irrevocably waiving any right to privacy, confidentiality and attorney-client privilege concerning the matters discussed. You further separately declare that any payment made by you is not consideration for this contract, nor offered for any services rendered by me on your behalf, but rather is made in genuine admiration and respect for my desire to help others. If you do not agree with these terms and conditions, then you must advise me immediately.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).