Need advice on Chapter 7 bankruptcy?
My wife over the course of college years (Phd degree) has over 200,000 in student loans, 60,000 in unsecure credits debt with a few cash advances here and there. All the credits are under her name She has very good credit and never late. I am not aware she is in this deep financial crisis. Anyway – she is making about 45,000 a year. I make 110,000 a year. The mortage is under my name however – I did put out her name on the tittle. My house is worth 520,000 – with 420,000 in mortgate. I have 2 kids also and cannot afford to keep helping her with these kind of debt. Can she file for chapter 7 and not affect my credit rating and my home and household goods. Thanks in advance for your help on this matter.
As long as you do not live in a community property state she can file separately.
IF she can qualify to file Chapter 7.
