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my husband personal credit is not good..mine is...if he files chapter 13 alone..will creditors come after me??my salary is all we have..he lossed his job..we need credit to move on..we will lose our house in the process...
Hi Guest,
Are you a co signor in any of his loans? If not, then no lender can go after you for the loan. It is against the FDCP rules. However, with a chapter 13 your husband will have to make options to repay unsecured loans that he has.
It is not yet time to panic about losing your home. If you can pay the mortgage regularly do so. Only when you cannot pay your mortgage lender your house may be foreclosed. This has nothing to do with your husband filing Chapter 13.
You said you have a good credit score. So, you may take up some additional financial responsibility to share and pay up the loan along with your husband. Let him make a portion of the payment and you may help him with the rest. I am suggesting this since you said you have a good credit score. Let me know if there is more to your situation.
Hi Guest,
Have you guys opted for piggyback credit? Are you a cosigner in his loans? IF the answers are "no", then I believe you do not have to worry about creditors coming after you. The FDCPA rules do not permit any creditor to pursue someone for other's unpaid debts and that too with a good credit score.
You said that your husband is planning to file a chapter 13 bankruptcy alone. In that case he will have to prepare an alternative repayment plan to pay off his debts under the supervision of the court in a stipulated period of time. He needs to plan it carefully keeping in mind his income. However, he needs to pay the amount at regular intervals to clear his debts. If he can do this then your home is safe.
Do you have joint loan account?
Or do you have co signer for loan?
If you are not co signer then do not worry no crediter will legally follow you in that case.