Bankruptcy and Your Spouse: FAQ Video

In this video we explain how bankruptcy will affect your spouse if your spouse does not declare bankruptcy themselves.

For more information, read our full article.


When one spouse is in financial trouble, it can be scary. You want to know — will your bankruptcy affect your spouse? Will creditors try to collect money from them? Will their credit be affected?

The fact that you are married does not make your spouse responsible for your debts.

As long as your debts are solely owed by you, your bankruptcy affects only you. Just because you declare bankruptcy, doesn’t mean your spouse has to. Your creditors cannot try to collect from your spouse just because you are married. Your bankruptcy will not appear on your partner’s credit report.

The only time that your spouse is affected is if they have guaranteed or co-signed debts along with you. Sometimes called joint debts, common examples would include joint credit cards, or a loan that you both signed as co-borrowers.

If that is the case, you can talk to your trustee about something called a joint bankruptcy to deal with both your debts and save on your bankruptcy costs.

When you meet with your Hoyes Michalos professional, we’ll look at your debts and help you be sure that your spouse will not be affected. If they are, we’ll help you come up with a plan together.

Similar Posts:

  1. How Filing Insolvency Affects Your Spouse
  2. When Your Ex-Spouse Fails To Pay Credit Card Debt
  3. A Complete Guide To Joint Debts
  4. Joint Consumer Proposal: Dealing With Joint Debt
  5. The Impact of Bankruptcy on Your Marriage

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