bhar Posted January 28, 2005 Report Share Posted January 28, 2005 Hi thereI am a new member and I apologize if I am repeating a question already in this forum.If I am trying to file for chp 7 what is considered as income. Is the formula for chp. 13 based off both my husbands and my income together or just my income. My husband is not going to file for chp. 7 and the loans I am filing for is just my liability he didn't cosign or have joint account on it. We are trying to figure out if for a loan that I am liable for my husbands earnings are taken into consideration or not. I will be filing individual chap. 7 not joint. Please help..Desiree Link to comment Share on other sites More sharing options...
ghacorp Posted January 29, 2005 Report Share Posted January 29, 2005 I believe that if you are married all income and assets are reported and both parties are part of the bk process. Link to comment Share on other sites More sharing options...
bhar Posted January 29, 2005 Author Report Share Posted January 29, 2005 But I heard that when one spouse applies for bk it is not necessary for other spouse to apply and ones filing of bk doesn't effect others credit? Maybe I heard wrong.. Link to comment Share on other sites More sharing options...
scrapwench Posted January 29, 2005 Report Share Posted January 29, 2005 You don't have to file jointly on a chapter 7, but they will consider both incomes if you're married. It makes sense, since you can't claim to be paying all of the living expenses, etc if you're not the only income, y'know?And no, if you file chapter 7 it shouldn't affect his credit. Link to comment Share on other sites More sharing options...
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