chapter 7 question
Date: Mon, 03/07/2011 - 12:29
A large bank is suing for defaulting on a large business debt. If my spouse and I were to file for chapter 7 the law suit would stop. What exactly would happen if only one of us filed? Would it stall the process or would it just continue without the one filing being involved?
If both of you are liable for the business debt and if one of yo
If both of you are liable for the business debt and if one of you file Chapter 7 bankruptcy, then the large bank can come after the non-filing spouse in order collect its dues. The spouse who files bankruptcy will be able to get a discharge from the debt and the bank cannot come after him/her in order to recover the dues.
