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Wife is bankrupt

Hello,

I was wondering if my wife goes bankrupt on her student loan, will that affect my credit history? meaning, if years after her bankruptcy,if i apply for a mortgage for instance, will they turn my application down due to my wife`s bankruptcy?

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One Response to “Wife is bankrupt”

A licensed trustee said...

If you co-signed or otherwise guaranteed your spouse’s student loan and they file for bankruptcy then you will be expected to make the payments. If you have not co-signed the debt then you should not be directly affected.

Whether or not this will impact your ability to get approval for a mortgage (or loan) will depend on too many things to go into on a free website, but if you require your spouse’s income in order to make the payments for the loan you are applying for and they have been bankrupt in the recent past, it may very well impact your approval and the interest rate you may be charged.

Your best bet is to contact a bank or other lender and ask them to show you how your application will be assessed.