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Ask WALLSTREETESQ Your Own Question
Category: Bankruptcy Law
Satisfied Customers: 17235
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
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My husband has recently filed Chapter 13. Of course my income

Customer Question

My husband has recently filed Chapter 13. Of course my income in considered in payback which i find objectionable because I am NOT filing. Anyway, the arguments over this have brought us to the verge of separation. if we file legal separation (we are in SC) how does this affaect our bankruptcy?
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  WALLSTREETESQ replied 7 years ago.
it won't make much difference until you move out and do not share expenses, if you do move out, he would have to amend his filing to not include your income, and his solely. It may help him as he could convert his case to chapter 7 or have his monthly plan payments lowered.
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Customer: replied 7 years ago.
If he convverted to a 7 could he keep his car and our house (little equity/upside down for now )? He makes aobut 50-52000 a year. I make about 68000. and if we file separation we will not be living in the same household.
Expert:  WALLSTREETESQ replied 7 years ago.
his income is high for a single person to pass the means test, but a chapter 13 would let him keep the home and car, his credit card debts would be reduced up to 70-90%