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cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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My husband and I had a frozen pipe burst that flooded our house

Resolved Question:

My husband and I had a frozen pipe burst that flooded our house last February. We are still working with our insurance to get the money the money owed to pay the contractors owed for the repairs but has been slow and still processing. We were sewed by a contractor in large claim court forcing us to pay a lawyer all the money we had and are now facing foreclosure due to mortgage payments 3 months behind. Would our best solution be to use any money for the mortgage instead of the lawyer and file bankruptcy? Thank you!!!
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  cfortunato replied 5 years ago.
Hi JACustomer,
You should be able to have the debt for the contractor as well as the attorney's fees discharged in a Bankruptcy. Given the information you provided, doing this does appear to be a viable option.

I think this is what you wanted to know. If not, please let me know.
Thank you!
Customer: replied 5 years ago.
If my husband declares bankruptcy since the lawsuit and house is in his name and was bought before we were married am I also included? When bankruptcy is filed what happened with our car loans and other bills we have financed and paying for? Also, to start the process what is the best way to find a atty to do so the cheapest and most effective way?
Expert:  cfortunato replied 5 years ago.

1) Since Texas is a Community Property state, you can also be held liable for any bills your husband incurs while you are married - even if those bills are only in his name - unless you also file a Bankruptcy.

2) When you file a Bankruptcy, your debts are discharged, but you can continue to pay for the things you want to keep - such as your house mortgage and your car loan.

3) The best way to find a reasonable, reputable attorney is to call the Texas Bar Association to ask for a recommendation for a Bankruptcy attorney. The number is 800.204.2222.


I think this is what you wanted to know. If not, please let me know.
Thank you!


Customer: replied 5 years ago.

I appreciate your time and promise to accept your answer, just still have a few more questions! If we both file bankruptcy how can we ever build enough credit back to be able to get financed for an emergency situation since we have 3 kids. Is it possible to build your credit during the 10 years ?. I have a care credit account and a few other credit cards that have good revolving standings. Will they be closed?

Expert:  cfortunato replied 5 years ago.

If you have not paid your mortgage for 3 months, your credit rating has already taken a "hit", and filing a Bankruptcy will not reduce it much more. Within one year after filing a Bankruptcy, and if there is no further negative activity, your credit score will start to increase. It will gradually increase over a 10-year period.

Yes - the credit accounts you currently have will be closed. However, credit card companies typically begin to again offer credit within one year after a Bankruptcy is filed.

Customer: replied 5 years ago.
I recently had to finance a new car in my name because my husbands credit was reflecting the unpaid mortgage and mine was not. We have been married less than a year. If the house is foreclosed on it will most certainly show up on mine?
Expert:  cfortunato replied 5 years ago.

If the mortgage is in your husband's name only, and if it was obtained before you were married, a foreclosure will not show up on your credit report.

Customer: replied 5 years ago.
So I shouldn't file just him????
Expert:  cfortunato replied 5 years ago.

If you do not file, you will remain liable for any money owed to the contractor and to the lawyer, because those debts were incurred during your marriage.

cfortunato and other Bankruptcy Law Specialists are ready to help you

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