What to do if one spouse wants to file for bankruptcy but the other spouse doesn’t want to?

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What to do if one spouse wants to file for bankruptcy but the other spouse doesn’t want to?

We are over $150,000 in debt and need to file bankruptcy. My husband on unemployment. I want to file and try to start rebuilding our credit. My husband doesn’t want to file; he wants to just wait and see what happens. By doing this I feel that it will do more damage to our credit then filing. I don’t know if he thinks it will all just go away and the phone calls and collection letters will just stop. Am I right in saying that our credit will be better off if we file and deal with this? My fear is we’ll get judgements against us.

Asked on October 11, 2010 under Bankruptcy Law, Ohio

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

The best thing for you and your husband to do is to go and see a debt counselor right away.  You are correct that there will be judgement coming if you can not pay for your debt.  And yes, they will indeed effect your credit even more.  But bankruptcy effects your credit as well.  It stays on your credit report for 7 years.  You will need to discuss your options here with the counselor and what will work best for you.  You did not mention if you have any assets such as a house, car, etc.  But I think that you need to do something to prevent the sleepless nights from continuing.  If you can at least get him to a debt counselor the counselor may be able to convince him that sitting and waiting for the other shoe to drop is not a good idea.  Good luck. 


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