I am married and we bought a house together last year. We own a company, and for the past two years, we have been accumulating debt, both company debt and personal debt. We are considering filing for company bankruptcy, and my husband is also considering personal bankruptcy. If my husband files for bankruptcy but I don't, will we be able to keep the house since it is in both our names? My husband is also the primary cardholder on a credit card, and I also have a card on that account. If he files for bankruptcy, am I responsible for that account even though I am not the primary cardholder?
Regarding the house, the answer is yes if you and the condominium association agree on the value of your husband's share. It's possible that this share doesn't have any excess value given the recent purchase.
Regarding the card, it's quite possible you're also responsible. Request the membership form from the issuing company to determine your liability.
Regarding the card, it's quite possible you're also responsible. Request the membership form from the issuing company to determine your liability.
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