Does MY Chapter7 appear on wifes excellent credit - joint mortgage

[Anonymous]

So it appears that I may have no choice but to do the Chapter 7.  toomany creditors to fight (15) and the $$ is very high.  All my credit is soley in my name so nothing is involved with the wife and I met an attorney and said everything should go smoothly. 

BUT I forgot to ask about my wife.  We are joint on the mortgage whcih is paid and current and no lates.  We will reaffirm the mortgage.  She could actually qualify for it on her own income.  Will my bankruptcy  show up through the mortgage on HER credit report and if so how badly will it affect her pristine credit and 810 FICO.

Thanks for sharing  your info - I am hoping someone has experience on this specific matter.

[JM-AM]

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@Anonymous wrote:

So it appears that I may have no choice but to do the Chapter 7.  toomany creditors to fight (15) and the $$ is very high.  All my credit is soley in my name so nothing is involved with the wife and I met an attorney and said everything should go smoothly. 

BUT I forgot to ask about my wife.  We are joint on the mortgage whcih is paid and current and no lates.  We will reaffirm the mortgage.  She could actually qualify for it on her own income.  Will my bankruptcy  show up through the mortgage on HER credit report and if so how badly will it affect her pristine credit and 810 FICO.

Thanks for sharing  your info - I am hoping someone has experience on this specific matter.

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You filing BK will have no impact on her.  Let me just add as long as her name is not on anything Jointly or AU that is not being reaffirmed for payment

[haulingthescoreup]

Hope it goes well for you.

This is an excellent example of why it makes sense for married couples to still hold credit individually, other than the mortgage.

[professorr]

I agree, really no need for them to hold same cards.  I did a no-no and took some large BT's and invested them, BUT I lost my job during that time. 

I'm still afraid of it screwing up her credit with the mortgage; BK attorney said it's always a chance. butI  assume if it did we could fight to get it off.  Her Fico is 820;  14 months ago I had a FICO of 748 (now 541)

[IOBA]

Can your wife refi the house into her name only BEFORE you file?   If she can, then the BK should not affect her.

If you file now, with her being joint on the mortgage, the mortgage company WILL BE notified of your BK filing.   Even if the house is reaffirmed, the mortgage company will most likely post something about it on the CR.  No for sures.

[professorr]

No not now.  BK trustee goes back a few years to see if there was a transfer of propert, and that would be included.  The attorney  (in my initial consult for 1 hour, nice guy) stated that havingf the home in my name too is an advantage because it actually give you more protection; maybe related to the means test.  I'm still going to ask him though about refinancing the home in my wifes name;  she's got the income to do it anyways.

But again; if ANYONE has been in this situation; how did the joint mortgage get reported on non-filing spouses  report?