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socrateaser
socrateaser, Attorney
Category: Bankruptcy Law
Satisfied Customers: 38878
Experience:  Attorney and Real Estate Broker -- Retired (mostly)
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i am married and filed chapter 13 but i filed individually.

Resolved Question:

i am married and filed chapter 13 but i filed individually. we recently purchased a house which my husband is the mortgage holder and i am on the deed. I neglected to tell the attorney because i was under the assumption that "I" couldn't buy a house or car etc only. what consequence will take place because of this
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  socrateaser replied 5 years ago.
Property acquired after filing of a Chapter 13 petition and before the case is closed becomes property of the bankruptcy estate. A debtor must update the Chapter 13 schedules to include the acquisition of any additional property, within 14 days of the date that the debtor becomes aware of the additional property acquisition. The bankruptcy trustee can request that the court modify the bankruptcy plan to consider any additional property.

Failure to update your schedules could cause your bankruptcy to be dismissed. On the other hand, if you're not really sure that your name is XXXXX XXXXX deed (because, e.g., you have never actually inspected the deed and you weren't part of the actual purchase transaction), then your duty to update the schedules has not yet attached.

You may want to discuss this with a local bankruptcy attorney, before you make any decisions about what to do next.

For a competent referral in your jurisdiction, see this link.

Hope this helps.

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Customer: replied 5 years ago.
what does bankruptcy dismissal mean and what does that do to my husbands credit
Expert:  socrateaser replied 5 years ago.
Bankruptcy dismissal would mean that you are right back to where you started before the Chapter 13 petition was originally filed -- you owe all of your creditors what you owed before you filed, and they can try to collect against your personal assets.

Re your husband's credit, this would have no effect. However, there are other potentially adverse consequences here, which may be different dependent upon whether or not you reside in a community property state (TX, LA, NM, AZ, CA, NV, WA, ID, WI). Which is why I strongly suggest that you consult local bankruptcy counsel.

Hope this helps.

NOTICE: My goal here is to educate the public about the law. Please help me in this effort by clicking Accept (or, click on one of the happy smiley faces/stars/etc., if applicable) for my Answer to your Question. If you have a subscription account, clicking Accept does not create any additional charge. It merely gets me credit for my Answer.

And, if you need to contact me again, please put my user id at the beginning of your question ("To Socrateaser"), and the system will send me an alert. Thanks!

Please Click the following link for IMPORTANT LEGAL INFORMATION.

socrateaser and other Bankruptcy Law Specialists are ready to help you