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    valalex01's Avatar
    valalex01 Posts: 3, Reputation: 1
    New Member
    		  
    #1

    Sep 28, 2007, 09:01 AM
    If my husband file a bankruptcy will that going to affect me
    I got married 10 months ago. I still live in Canada waiting for my Immigration papers. If my husband file a bankruptcy Will that affect my credit and Immigration papers. In this case will he still sponsor me. His net income is 3300/mth. Do they include as a asset my car which I own before get married-the value is around $8000. His car value is approximately $20000.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #2

    Sep 28, 2007, 09:03 AM
    It shouldn't affect your immigration status, but it may affect your credit. However, if all they debt is from prior to your marriage, it may not.
    valalex01's Avatar
    valalex01 Posts: 3, Reputation: 1
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    #3

    Sep 28, 2007, 09:11 AM
    My husband lives in Nevada, never filed bankruptcy before, own house for 1y 6mth. Can he keep the house if makes payments on time. The value of the house when he bought was 280000, now it has dropped down to 240000.
    valalex01's Avatar
    valalex01 Posts: 3, Reputation: 1
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    #4

    Sep 28, 2007, 09:19 AM
    He spent 80000 on his credit cards opening a business after we got married. His business didn't go well. Will that affect me as well.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #5

    Sep 28, 2007, 09:33 AM
    He and you should be discussing this with his bankruptcy atty. If the debt was incurred after you were married, it may have significant affect on you.

    Depending on the terms of the bankruptcy, he should be able to exempt his primary residence.
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #6

    Oct 15, 2007, 11:39 AM
    Quote Originally Posted by ScottGem
    He and you should be discussing this with his bankruptcy atty. If the debt was incurred after you were married, it may have significant affect on you.

    Depending on the terms of the bankruptcy, he should be able to exempt his primary residence.

    If they are HIS debts and HIS only there is no problem with your personal credit. Obviously obtaining credit in HIS name or JOINT names will be an issue for seven to ten years. You will probably need to explain often - and thoroughly - but you are NOT going bankrupt, he is, and you are separate entities.

    I do not know what the primary residence exemption is in Arizona but you could Google that info.

    I do not know if his bankruptcy will effect his ability to sponsor you - that is a question for an Immigration Attorney.
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