Bankruptcy on Credit

Effects of Bankruptcy on Credit

Call: 888-297-6203 People filing for bankruptcy are often scared about the effects of it on their loved ones. Debtors often believe that their credit gets merged with their spouse’s credit or that the liability of their debts will fall on their children in case they are still remaining at the time of death. Such rumors are untrue and misleading. Firstly, the credit scores of the spouses are independent of each other. The credit score of one partner might be extremely good while the other’s may not. Sometimes, one spouse owes all the unsecured debts while the other has [...]