Will My Spouse’s Bankruptcy Hurt My Credit Score?

06 Jul Will My Spouse’s Bankruptcy Hurt My Credit Score?

A question that often comes up in consultations is this: Will my spouse’s bankruptcy hurt my credit score. The question can come up in many different scenarios: First, a couple that is going to be married, but they want to clear up his or her old baggage before approaching the altar; second, the married couple with all the debt in one spouse’s name and that person will be filing for bankruptcy alone (usually, they want to buy a home and need to know if they can put in one person’s name); and third, the divorcing couple who want to take care of the financial issues together because it will be cheaper than fighting these issues out in the divorce courts. The scenario doesn’t matter, it’s the question that needs to be answered, and I’m glad that people ask the question.

The answer is simple: NO! The bankruptcy of your soon to be spouse, current spouse, or soon to be ex-spouse will not change your credit report or credit score.

If you have joint debt with the person filing for bankruptcy, your credit report and score can become an issue because the creditors can state that one person on the account filed for bankruptcy protection. The issue that you will have to deal with is how are you going to pay the obligation. Additionally, you will need to make sure that you keep the account current and that your credit report clearly reflects that you have not filed for bankruptcy.

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Carmen Dellutri is a proud member of the Florida Bar, and he is a Board Certified Consumer Bankruptcy Attorney, Certified by the American Board of Certification. He practices in the areas of Consumer Bankruptcy and Plaintiff's Personal Injury. He is the principal attorney at The Dellutri Law Group, P.A. The firm supports many charitable and civic causes by donating time and much needed capital to our community. Mr. Dellutri and the other attorneys in the firm routinely speak to students of all ages about various legal and societal issues.
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