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Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2820
Experience:  Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
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I am filing for personal bankruptcy, as an individual and not

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I am filing for personal bankruptcy, as an individual and not with my spouse, because of the closure of my business has put me personally in deep debt. My wife isn't in any way connected to any of the debt - though I personally guaranteed several of the loans I got. Should she have an attorney to protect her personal assets, or her equity in our house .
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  Terry L. replied 7 years ago.
It may depend on where she lives if she might be responsible for the debt, if you are in a community property state. Otherwise, if you are not, and she did not sign on any debt, then she wouldn't be responsible for your debts. If you are not on her assets (ie house) then the home isn't an issue in the case. If you cosigned on some of her debts, then she'll still owe those when the case is over. The court will look at her income in calculating the means test for chapter 7 eligibility, but you can include her non-household expenses as a deduction. Your attorney should be able to confirm that the case won't affect her though, she probably wouldn't need her own attorney.
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