Patriot2005
Junior Member
What is the name of your state? Louisiana
I have a friend whose husband recently used personal credit cards to start a business, which did not succeed. He's now closed his business but is deep in debt. He is currently unemployed but plans to get a job in the next month. Because he plans to file BK soon, he has been using his credit cards liberally for necessities as well as many extravagances and luxury items. Once they are maxed out he intends to finish his paperwork and file Chapter 7, and that all of his debt will then just be erased.
My friend does not approve of what her husband is doing but can't stop him. She has made no CC purchases herself and the cards are mostly in his name, though a few are in hers. They are renting out their house, and are living in a rent house themselves. Their two vehicles are older models and paid for.
What I am wondering is what will happen when they attempt to file? Will someone come in to take all of their belongings? (What is typically taken in such a case?) Will they be disqualified from filing? Will my friend be held responsible for the debt that her husband obtains? Can the money from any future job he gets be garnished, or his filing tossed out? My friend is a stay-at-home-mom; can she be required to go to work? My friend and I are very concerned about what the future might hold for them. Any help would be appreciated. Thanks!
I have a friend whose husband recently used personal credit cards to start a business, which did not succeed. He's now closed his business but is deep in debt. He is currently unemployed but plans to get a job in the next month. Because he plans to file BK soon, he has been using his credit cards liberally for necessities as well as many extravagances and luxury items. Once they are maxed out he intends to finish his paperwork and file Chapter 7, and that all of his debt will then just be erased.
My friend does not approve of what her husband is doing but can't stop him. She has made no CC purchases herself and the cards are mostly in his name, though a few are in hers. They are renting out their house, and are living in a rent house themselves. Their two vehicles are older models and paid for.
What I am wondering is what will happen when they attempt to file? Will someone come in to take all of their belongings? (What is typically taken in such a case?) Will they be disqualified from filing? Will my friend be held responsible for the debt that her husband obtains? Can the money from any future job he gets be garnished, or his filing tossed out? My friend is a stay-at-home-mom; can she be required to go to work? My friend and I are very concerned about what the future might hold for them. Any help would be appreciated. Thanks!