Although it is not termed ""Chapter 13 Husband Bankruptcy,"" it is possible for a husband to file Chapter 13 bankruptcy on his own. The law does not require a husband and wife to register jointly for bankruptcy.
Even though only the Husband is petitioning for bankruptcy, the income and expenses of the Wife are required so that the bankruptcy court, trustee, and creditors can evaluate the household's financial situation to determine whether or not the Husband is eligible for bankruptcy.
The Wife will be required to reveal:
Her creditors, the amount she owes each creditor, and the reason why she owes each creditor are listed.
The source and quantity of her income, as well as the frequency of her payments.
Her entire property.
All of her monthly expenditures, including food, lodging, utilities, taxes, transportation, medical, business, and so forth.
A person's domestic financial situation affects several aspects of a Chapter 13 bankruptcy, including, but not limited to, the duration of the payment plan and the debtor's eligibility. For an authentic depiction, it is necessary to include information about the Wife. However, the Wife is not a party to the Chapter 13 bankruptcy and is therefore not bound by it.
It should be noted that if the Wife's financial status changes during the bankruptcy, this change must be reported to the trustee because it may affect or alter the Husband's bankruptcy.
This is commonplace knowledge. Consult an attorney licensed in your state if you require specific information or have any queries of any kind.
This article may be republished with no changes to the language or author connections.
" - https://www.affordablecebu.com/
