How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask WALLSTREETESQ Your Own Question
WALLSTREETESQ
WALLSTREETESQ, Attorney
Category: Bankruptcy Law
Satisfied Customers: 17080
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
16356563
Type Your Bankruptcy Law Question Here...
WALLSTREETESQ is online now
A new question is answered every 9 seconds

My domestic partner is thinking about filing bankruptcy, until

This answer was rated:

My domestic partner is thinking about filing bankruptcy, until a few weeks ago I was an authorized user on his credit card. Previously there were two card in which I was an authorized user. I have been removed from all three accounts effective 2 weeks ago.

1. What impact to my credit report and score will there be if he does file bankruptcy?
2. Also, will there be any impact to my credit report and score due to the fact the we cohabitate in a home I purchased and he has no financial ties to (e.g. not on the mortgage or any of the utilities)?

WALLSTREETESQ :

Hello I am a licensed attorney here to help you with your question, please review my response and do not hesitate to ask for clarificati on.

WALLSTREETESQ :

The filing of the bankruptcy will not hurt you in any way,

WALLSTREETESQ :

the only issue is that if you are living together, he would have to list your income as part of his bankruptcy as the Court requires all household income to be included,

Customer:

Well he is currently showing my address as a temporary address while maintaining his home address about an hour away. That property will go into foreclose and then he will file bankruptcy to halt/slow foreclosure process.

Customer:

There are no joint accounts between us what so ever.

Customer:

Will he still need to report my income as 'household' income?

WALLSTREETESQ :

Then he will not have to include your income, if he is claiming he his not living with you,.

WALLSTREETESQ :

Either way you do not have liability to his bankruptcy filing.

Customer:

Bankruptcy law is federal versus state or local level, is that correct? So all states administer by same rules, laws and guidelines?

WALLSTREETESQ :

Bankruptcy law, is governed by Federal law,

Customer:

Perfect. Thank you for your help!

WALLSTREETESQ :

Each State has their own bankruptcy exemptions, for property that can be protected,

WALLSTREETESQ :

but all bankruptcy cases are filed in Federal Court, and follow Federal law for the most part.

WALLSTREETESQ :

If you have any further questions please do not hesitate to ask.

WALLSTREETESQ :

If satisfied please provide us with positive feedback.

Customer:

there is one more thing.

WALLSTREETESQ :

ok

Customer:

Even with the exemptions within each state, there still will be NO impact to my my credit history, report or score?

WALLSTREETESQ :

no,

WALLSTREETESQ :

as long as your name or social security number is XXXXX given you are fine,

Customer:

Ok, since the cards I was authorized on by him are being reported my credit history what will that impact be?

Customer:

Still nothing?

Customer:

That's where I am puzzled, with no obligation how are they able to report the account on my history?

WALLSTREETESQ :

if your name is XXXXX XXXXX the cards, and they are not being paid it is a problem and it will hurt you,

WALLSTREETESQ :

you have to make sure you are no longer on the cards

Customer:

Ok, so what I gleen from your statement is once there is a disconnect (so to speak) between me and his cards, there will no longer be a reason for the creditor reporting on my history.

WALLSTREETESQ :

yes,

Customer:

Again, thanks.

WALLSTREETESQ and 2 other Bankruptcy Law Specialists are ready to help you