how bankruptcy affects seperated people.

October 5th, 2007 by Questions

My girlfriends ex-husband has accumulated enogh debt that he is claiming bankruptcy. They own a house together but it is just enough to cover the cost of the mortgage. (no equity). They also have a 25000 dollar line of credit that is in both of their names.

My question is this, will his bankruptcy affect her good credit rating and will she be responsible for the entire amount of the line of credit.

Thanks

Questions

One Response to “how bankruptcy affects seperated people.”


, Barton Goth GCO Bankruptcy Trustees said:

The filing of a bankrutpcy by her ex shouldn’t have any direct impact on her as long as she continues to make the payments on the joint line of credit (which she will be soley and fully responsible for) and keeps the mortgage up to date.

However, if payments are not kept up to date her credit will suffer, but not as a result of the ex’s bankruptcy as a result of failing to make her payments as they become due.

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