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Spousel bankruptcy

My husband has a huge amount of credit card debts and possibly other miscellaneous debts that I am not aware of. We have not separated yet and have a house and line of credit under both our names.

I am aware that his share of the house will be paid towards his creditors after he declares bankruptcy, but what will happen to my share? Will I be affected or forced to sell the house? My husband tells me that after he declares bankruptcy, our home will be put forth to a court judge for them to decide whether or not it should be sold (if that makes sense). Is this true?

Thank you in advance for your reply.

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One Response to “Spousel bankruptcy”

Barton Goth GCO Bankruptcy Trustees said...

Your share of the house is yours to deal with as you wish. The only way that a sale of the house would be forced would be if that was the only way to recover your husbands share of the equity.

However, for a better idea of what your husband’s trustee is planning on doing with the house you should contact them directly as there are many different ways a trustee can approach this issue.