Sanderson, TX Bankruptcy Law Firms & Lawyers

Either spouse can file a single petition. The non-filer's credit will not be affected unless there are joint credit applications, in which case the credit reports are "married." However, to take certain exemptions the non-filer must file a spousal waiver in the bankruptcy along with schedule C (exemptions.)

It all depends on the type of creditor. If it is an unsecured creditor you would need to amend Schedule F to list the creditor. If it is a secured debt then you would need to add them to Schedule D and amend that. If they are a priority creditor you would need to add them to Schedule E. Once you add them and amend the schedule you should also file an amended creditor matrix so that when the case is discharged the court will mail them a copy of the discharge order.

First, for you and anyone who reads these questions and answers, you must list all of your assets and all of your debts. Period, no exceptions. You may not pick and choose. With that being said, a Chapter 7 Trustee will be appointed in the case and will determine the value of the car, subtract the various claimed exemptions you choose and whether they are legally sufficient, subtract the amount owed on the vehicle and see if there is equity which needs to be liquidated for the benefit of the creditors in the case. So if the vehicle is worth $19,000 and only you are no the title, then the most you could claim as exempt is $6,000, but that number will certainly be less. Subtract the exempt amount from $19k and subtract the amount owed from the amount after subtracting the exemptions and you have the equity. The larger the equity, the more you have to pay the Trustee. The exemption amount will vary on other factors in your case and I cannot determine that without much more information.