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Roger, Attorney
Category: Bankruptcy Law
Satisfied Customers: 31786
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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My ex-wife and I own a home together. She is filing for Chapter

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My ex-wife and I own a home together. She is filing for Chapter 13 Bankruptcy. How will this affect my credit?
<p>It is likely that your credit report will show a bankruptcy has been filed on any loans you have jointly with her - including the mortgage. </p><p> </p><p>However, with a Chapter 13, she's going to be re-paying the debt over 3-5 years and won't be being discharged, leaving you solely liable. </p>
Customer: replied 8 years ago.
So, will I be penalized for her bankruptcy?
It should not cause you any real problems. However, if she converts the case to a Ch. 7, she will be released from any joint debts, leaving you solely responsible - which could cause you trouble in the event of a default.
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