If I declare bankruptcy, will my spouse be liable for my debts?
Jan Meriss Alfonso Assistant at Ascent Law LLC Filing for bankruptcy If you and your spouse file jointly for bankruptcy, it can seem like your spouse is liable for your debts. However, that's not the case in most cases. You're both going to be responsible for paying back any debts you owe together as a couple, but that doesn't mean your spouse is on the hook if you declare bankruptcy. The only time they would have any responsibility is if they signed up for a loan with you. Even if they cosigned, they'd only be held responsible if the creditor could prove that they had the ability to pay the debt at the time of signing. Couple filing for bankruptcy However, when a couple files separately, one of them would have to go through their own separate bankruptcy process—which would entail listing all of their debts and assets on their own petition. In this situation, it's possible that one person's debts could be treated differently than the other person's, but in...