I'm a newly wed and my husband intends to file for bankruptcy.  I need to know how this will affect my credit and weather or not my financial information must be filed with his application.  I'm new to the USA and have not even begun to work yet so I haven't been able to establish any credit of my own.  Please advise me before I get in way over my head?

My lawyer is telling me that if I don't come up with more expenditure that my monthly payment will be very expense. Do anyone have any Idea's

The road to filing for Chapter 7 has been long and stressful. I became a single mother to a young child at the age of 25. I had a good job but I just could not make ends meet. Over the course of 5 years, with no child support from my son's father, the stuff has finally hit the fan! I never bought anything luxurious or expensive - the only thing that I use a credit card or a loan for is rent, food, clothes, etc. Now I am finally filing for chapter 7. Now I am happily married and my new husband is helping me through this very difficult process. The hardest part is coming to terms with it, finding the support to get through it, and not to mention the calls you sometimes get at work. I work in a busy pharmacy that is independently owned and it is hard to maintain a low profile. I am close to filing all of my paperwork and paying the fee to my lawyer to have it done. Needless to say, I can't wait until it is over. I really am a smart and capable individual financially, it was just hard to do it on my own!

Do they count personal loans as unsecured debt and what do you have to prove? My husband was borrowing money from his mother (without any legal papers signed) and now she wants it all back.

I just filed for 7 - after my husband lost his job, and he then moved out - leaving me with all financial responsibility - so I filed for divorce. Then I couldn't keep up with the bills and maintenance costs of the house anymore, plus, my employer implemented unpaid time off which means less income for me. And I had excellent credit for over 20 years and been most responsible all my life!

First I decided to negotiate my two mortgage loans - that's when my credit began to crumble. Not a nice feeling, but I knew this would happen. Next, my Chase credit card interest rate went totally up - that was unexpected and caused me frustration. I also had another loan and credit card from BofA. After some research, I decided to try debt settlement, signed up with a firm for that, and started to pay into an escrow account for that. Meanwhile, my first mortgage company was considering a modification - yeah - I was so hopful to keep my home!

So far so good, right? Nope - as soon as I signed up with the debt settlement firm, Chase mailed me legal papers - they were suing me! That was unexpected and that's when I began to feel awful. So now I had to contact a lawyer who suggested chapter 7 - and because of my good income, I will have to let the house go to even qualify! So now I am loosing my home and my credit for 10 years! I had to gather every statement, every bill, every expense, and sign legal papers and now I need to start packing to move as the house will be foreclosed soon. In the meantime my new boyfriend breaks up with me because I am a bit more frustrated than usual - and my cat just died so, my car needs a $1000 repair, and  my family lives far away so I basically have little support.

Filing for bankruptcy is gut wrenching to me becuase I worked so hard for over 20 year to buy a home and build a perfect credit, and then within a year I see myself losing it all at once.  I am hoping for the better times to  come and pray to have my life back one day - but right now going through this is hurtful, frustrating and makes me feel rather lonely as I don't like to talk to anyone about it.

I'm a responsible person who always pays my bills. The combination of California real estate and furloughs have pushed me into bankruptcy.
Anyone have good advice to deal with the emotional toll of this process?

I filed last July. Be sure you have an experience attorney! There are options that you have that a good attorney can direct you too.

Do I file my income taxes different after ch 7 bankruptsy? Is the unsecurred discharged debt figured in somehow?

Can my bankruptcy affect my fiance's top secret clearance?

Sodepressed,

Did you ever get a response or resolution to this issue?  We are going through the same situation (minus the business part), and I am curious if you resoved this?

I hope it all worked out for you!

Thanks!