Husband's Bankruptcy When I Am On Title
My question involves bankruptcy in the state of: CA
My husband needs to file a bankruptcy (chap 7) due to two recent foreclosures and some credit card debt. The first foreclosure (rental porperty) has already happened. I was not on title or on any of the loans. We are currently in the process of the 2nd foreclosure which is at the house we are currently living in. I am on title but NOT on the loan.
Our question is whether I will be affected by the BK (or be forced to file as well) since I am on title. Our finances are not that great and I am currently unemployed due to a recent employee lay off.
For some reason the lawyer we consulted could not answer this question and will try to answer it as soon as he comes back from Vacation! Until then, we are very anxious to find out.
TIA
Re: Husband's Bankruptcy When I Am On Title
You should consider consulting another attorney as one should have been able to at least inform you of the possibilites. Was there a transfer of title putting the house only in your name? What did the bank use to secure the loan if the husband is not on the deed?