bankruptcy alternatives
will MY bankruptcy affect my fiance after we are married?
I am considering filing for bankrupty. I am 3 months pregnant and i will not be able to work after the baby is born. i owe about 18K. my fiance and i are getting married. i want to file for bankruptcy before we are married. after we are married would it effect him since i was in this situation before we wed? there is no way he would be able to pay all of my bills for me because he will be paying for rent food utilities and all other expenses for me and the baby. as for me, how long can i start building credit again after bankruptcy in new york city? if the court denies bankruptcy for me what other alternatives do i have. my fiance/ future husband cant afford to pick up all my bills for me. what i am really concerned about is is this going to effect him since this situation occured (will occur before we are married) how long does the process take?
You can file an individual consumer bankruptcy either before or after you are married. After you are married you would also have the CHOICE to file a joint bankruptcy with your spouse if desired, but you do not need to. You can always file individually, whether you are married or not.
Your fiance is not responsible for, and does not owe, your debts unless he co-signed for them.
Your bankruptcy will only affect your new spouse in that if you want to apply for joint credit, your credit history (including the bankruptcy) will be evaluated with respect to the joint application.
The law requires your credit history to be maintained separately from your spouse’s credit history. The only times they intersect are when you have a joint credit obligation (e.g., a mortgage for which you are both responsible).
It can take a month or more to gather up all the documents your attorney will need to file your bankruptcy, although I have seen EXTREMELY motivated and organized clients who’ve done it in less than a week.
Once your bankruptcy is filed (assuming you would be filing Ch 7) it takes about 5-6 months in most districts before you receive your discharge.
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