My husbands ex-wife left him with very bad credit. None of it is credit card related. IT is stuff like student loans, overdrawn bankaccounts, unpaided bills, morgage that is twice what the house is worth. He also has a judgment againts him from Ford Motore Credit. We are trying to pay these back up it is over $100,000 we just don’t make that kind of money.
My credit is fair. When I was younger I made some bad choice, but everything I have now is up to date and I’m working on imporving my credit.
Can my husband file for Banckruptcy with out hurting my credit?
The answer is that he can. As long as he does not have any joint debts with you then you are not involved in this at all. If you have taken out joint debts with him since you have been together, all his debts will need to be listed in his bankruptcy. He can’t pick or choose.
So do this. Find a local bankruptcy attorney that you like and I think the both of you should go in and talk to the attorney about the situation. Not so you can be included, but so the two of you can ask all the questions you can think of and then walk away on the same page. Then the two of you can make an educated and informed decision about what you want to do.
As far as your credit goes, fair isn’t good enough. If you don’t know what is bringing your credit score down then get a copy of your consolidated credit report with the credit score option. Find out exactly what it is that is bringing you down and then address those old and potentially outstanding issues.
Please update me on your progress by posting updates here in the comments section of your question. I’m very interested in how this works out for you.
You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.
P.S. Be sure to read ‘The Secret of Surviving Through Difficult Economic Times. What I Learned On My Journey‘.