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Expert: - 9/13/2006


Question
Thanks- I am in California. Would the BK affect her credit rating at all? She is from Canada and has just gotten a new SS number. Is the means test based on your gross income or net income?
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Followup To

Question -
I have credit card debt that is over 3 years old, that mostly has been charged off. I am newly married (less than one year). If I decide to declare BK, can I do that as an individual or is my wife forced to be involved as well? No new debt has been acquired since we have been married. What options do I have? Thanks

Answer -
you can file by yourself, but your wife's information will be factored into the means test analysis, and if you live in a community property state, her income and assets will also be factored into the budget and other analyses.

Answer
If she doesn't file the bankruptcy then it will not affect her credit.  Of course, regardless of whether either of you files bankruptcy, if debts on which she is liable are not paid, then it will affect her credit.  This includes community debts, as California is a community property/community debt State. If you would like a free phone consultation, please visit http://www.bklaw.com/consult/ and complete the 4 short steps there and contact me to schedule an appointment.  

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Mark J. Markus- California Bankruptcy Attorney

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Mark J. Markus is a Los Angeles bankruptcy attorney who has practiced exclusively bankruptcy law in California since 1991 and is rated A+ by the Better Business Bureau and is AV-rated by Martindale-Hubbell. He represents debtors, creditors, and Trustees in Chapter 7, Chapter 11, and Chapter 13 of the bankruptcy code throughout California.

Experience

Visit our California bankruptcy webpage at http://www.bklaw.com for more information on bankruptcy in general and Mark J. Markus in particular. Many questions are answered on the web page (hint, hint).
The Markus webpage also contains more information on

  • Which Chapter to File,
  • business bankruptcy,
  • chapter 7 bankruptcy,
  • chapter 11 bankruptcy,
  • chapter 13 bankruptcy,
  • Do You Need a Lawyer to File Bankruptcy?
  • Frequently Asked Bankruptcy Questions

    Also visit our Los Angeles bankruptcy blog for interesting articles and much more.



    Organizations
    Central District Consumer Bankruptcy Attorneys Association (CDCBAA) Los Angeles County Bar Association (LACBA) Commercial Law & Bankruptcy Section of the Los Angeles County Bar Association Financial Lawyers Conference (FLC) National Association of Consumer Bankruptcy Attorneys (NACBA) Los Angeles Bankruptcy Forum (LABF) American Bankruptcy Institute (ABI) San Fernando Valley Bar Association (SFVBA)

    Publications
    Central District Consumer Bankruptcy Attorneys Association Newsletter September 2007 (Vol. 1, Issue 2)

    Education/Credentials
    J.D., University of Arizona 1990. B.A. Economics, California State University, Northridge 1986. For more details please click here

    Awards and Honors
    AV Rated by Martindale-Hubbell (http://www.martindale.com) A+ Rated by Better Business Bureau

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