For you gurus: Bk questions...

[Anonymous]

1. If my spouse files Bk on his accounts alone, does the court consider my salary?

2. If the only joint account we have is a mortgage, and that mortgage is reaffirmed, will it show as IIB on my credit report?

3. If the court finds that my spouse must file Ch. 13 instead of Ch 7, is it mandantory that his wages are garnished to make the paymnets to the trustee? (He works for his parents, and garnishment would be disasterous!)

Thank you in advance!!!!!

[Anonymous]

Weelll....

I called an attorney today, and here's the answers for anyone else also wondering:

TexMontana wrote:

1. If my spouse files Bk on his accounts alone, does the court consider my salary?

Yes. And my debts.

2. If the only joint account we have is a mortgage, and that mortgage is reaffirmed, will it show as IIB on my credit report?

No---That is if the account is reported CORRECTLY. Attorney said some people have a battle to get this corrected. No! Really?

3. If the court finds that my spouse must file Ch. 13 instead of Ch 7, is it mandantory that his wages are garnished to make the paymnets to the trustee? (He works for his parents, and garnishment would be disasterous!)

In my state, YES. It's actually a wage assignment.

Thank you in advance!!!!!

You are welcome!

[granny031350]

a reaffirmed debt takes that debt "out of the BK" and on time payments should be reported.  However, that isn't always the case.  I have seen a lot of BK'ers reaffirm and still have the account show as IIB/zero balance on their credit.  cra's are afraid they will violate the reporting law so they do that to defend themselves.  GL

[bamagirl1]

right i reaffirmed my house when i filed ch 7 and i got a letter from my mortgage company but didnt show any iib or anything on cra