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James Edward salabury file bankruptcies in the past year.

James Edward salabury file bankruptcies in the past year.

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What are the consequences for not filing for bankruptcy?

Most of the time, not filing for bankruptcy is much worse. Here are some of the consequences of not filing for bankruptcy. Your Assets May Be Repossessed, You May Lose Your Home, Government Agencies Can Garnish Your Wages..etc. You can get more information about bankruptcy questions at Diy4law

My husband had some debts that he could not afford ...

If he makes himself bankrupt then it should not affect you except the address may be tagged. Depending upon the size of the debts why not sit down and talk to the creditors. I presume they are all unsecured, so if he goes bankrupt they will likely get zero. Offer them a very nominal amount each ...

Why do people file bankruptcy?

People file bankruptcy to get relief from debt, although it won't eliminate student loan debt. It could be that there are big credit card debts, or big medical bills. Maybe all the money was spent on drugs or gambling. If you then lose your job you may have no way to pay the bills. Or maybe you ...

Can a debtor file a bankruptcy for the sole ...

When filing for bankruptcy, it is important to check the rules especially if you have a co-signer. Your co-signer was the one who co-signed your debts when you applied for it. Your co-signer vouched about your credibility as a borrower, which is how you got the approval. Generally, a co-signer is ...