Go to navigation Go to content
Toll-Free: 877-344-8189
Phone: 703-204-2040
The Strong Law Firm, PC

My spouse needs to file for Northern Virginia bankruptcy. How will this impact my own credit report?

If your spouse can’t keep up with debt they’ve built up in his or her own name, he or she may be deliberating filing for bankruptcy. 

It’s natural to have some concerns about how this will impact your own credit report, and if, in the event of liquidation in a Chapter 7 scenario, your ownership of joint or personal assets will be jeopardized. 

For the most part, as the non-filing spouse in Virginia, you will remain separate from bankruptcy proceedings. The trustee cannot sell assets that are solely in your name to satisfy creditor debts and your spouse’s filing will not show on your credit report.

The bankruptcy trustee cannot seize your personal assets. Jointly titled property is somewhat more complicated, but even if it must be sold, you will be reimbursed for your half.

Be aware that your spouse’s bankruptcy will impact their Virginia credit report for several years, possibly creating difficulties if you try to apply jointly for a major loan in the future.

Because the process of building and filing a bankruptcy petition is complicated and everyone’s situation is different, your spouse may need some professional guidance along with your emotional support. As you will also have questions and concerns, it is in your best interests to take advantage of any legal or financial counsel your spouse takes on.

Do you or your spouse want to take action on major debt problems before they put any further stress on your marriage? It might be time to talk with a Northern Virginia bankruptcy lawyer at The Strong Law Firm. We help consumers learn about fresh-start solutions for their Virginia, District of Columbia and Maryland debt. For a free consultation, call our offices at 877-344-8189 or reach us online with the quick contact form to the right.
Michael Strong
Senior Attorney, Strong Law Firm