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cfortunato
cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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my recently divorced husband filed for bankruptcy. We had the

Resolved Question:

my recently divorced husband filed for bankruptcy. We had the mortgage in both names (deeded to me) and one credit card which I didn't even knew existed in our names. Will I have a bankruptcy on my credit report?
Submitted: 4 years ago.
Category: Bankruptcy Law
Expert:  cfortunato replied 4 years ago.

cfortunato :

Hi - my name is XXXXX XXXXX I'm a Bankruptcy attorney here to assist you.

cfortunato :

Your ex-husband's Bankruptcy filing cannot be put on your credit report.

cfortunato :

It does not matter that there is a mortgage and a credit card in both names.

Customer:

ok. even though the mortgage bank wrote a letter stating that the mortgage is now a bankrupt status mortgage?

Customer:

ok

cfortunato :

Yes - the mortgage will be in "bankruptcy status" while his Bankruptcy is in progress.

cfortunato :

Once his Bankruptcy is discharged - in 4 to 6 months - the mortgage will no longer be in "bankruptcy status".

Customer:

but i can refinance in my name only and that would fix problem?

Customer:

oh ok

cfortunato :

Yes - you can re-finance the mortgage in your name only.

Customer:

will the bank sell even though i am willing to re-finance?

Customer:

ok

cfortunato :

The bank cannot foreclose your house as long as the mortgage is being paid.

cfortunato :

Even though your ex-husband filed a Bankruptcy.

cfortunato :

That just means his liability to pay the mortgage will be discharged.

Customer:

ok

cfortunato :

If you continue to pay the mortgage, the bank cannot sell the house.

Customer:

i am 3 months in arrears

cfortunato :

Well, then the mortgage company will be able to foreclose the house - unless you bring the payments current.

Customer:

because without the x, the payment is too high

cfortunato :

I understand.

cfortunato :

If you cannot pay the mortgage on your own, you may be able to apply for a modification.

cfortunato :

If you cannot get a modification approval, you may want to consider selling the house.

Customer:

ok

cfortunato and other Bankruptcy Law Specialists are ready to help you