Bankruptcy

[dustel 0]

I was just curious about something... My ex husband and I still have a car and some property with both of our names on the loans. He has tried to refinance them and can not get them in his name only. He is considering to stop paying for these things and there is no way I could afford to make the payments and pay for my own house car and etc. I was wondering if I filed Bankruptcy to have my name taken off the loans would this affect my K-1 petition? I make enough to sponsor my fiance but I dont know how Bankruptcy will affect the process. Thanks in advance!

[milimelo 5,061]

Moving to K-1 visa.

[JimVaPhuong 4,865]

I was just curious about something... My ex husband and I still have a car and some property with both of our names on the loans. He has tried to refinance them and can not get them in his name only. He is considering to stop paying for these things and there is no way I could afford to make the payments and pay for my own house car and etc. I was wondering if I filed Bankruptcy to have my name taken off the loans would this affect my K-1 petition? I make enough to sponsor my fiance but I dont know how Bankruptcy will affect the process. Thanks in advance!

I think you should take a look at the bankruptcy laws. What you want to do might not even be possible. A chapter 7 filing requires you to liquidate assets to pay off your creditors before any debts are forgiven. A chapter 13 filing requires you to make payment plans with your creditors. Unless your debts are related to a business then you aren't even eligible for chapter 11.

The days when you could file a bankruptcy and just walk away from your debts while keeping all of your income and assets are long gone. I'm not at all surprised that your creditors won't let your ex-husband assume the loans. Your signature is an extra guarantee to them that the debt will eventually be paid. They have no motive to give up that guarantee.

Anyway, neither USCIS nor the US consulate are going to make any decisions based on your credit rating, though it's possible that the consulate might see your credit rating. Some consulates use Lexis Nexis to run a check on the petitioner, and if you or a creditor has recently pulled your credit report then your rating might be on the Lexis Nexis report. The only thing they would be concerned about would be tax liens.

[Anh map 2,098]

Agree with Jim. You can't selectively remove debts. It's an all in type of deal.

A bankruptcy should not impact the immigration processing.

[dustel 0]

I think you should take a look at the bankruptcy laws. What you want to do might not even be possible. A chapter 7 filing requires you to liquidate assets to pay off your creditors before any debts are forgiven. A chapter 13 filing requires you to make payment plans with your creditors. Unless your debts are related to a business then you aren't even eligible for chapter 11.

The days when you could file a bankruptcy and just walk away from your debts while keeping all of your income and assets are long gone. I'm not at all surprised that your creditors won't let your ex-husband assume the loans. Your signature is an extra guarantee to them that the debt will eventually be paid. They have no motive to give up that guarantee.

Anyway, neither USCIS nor the US consulate are going to make any decisions based on your credit rating, though it's possible that the consulate might see your credit rating. Some consulates use Lexis Nexis to run a check on the petitioner, and if you or a creditor has recently pulled your credit report then your rating might be on the Lexis Nexis report. The only thing they would be concerned about would be tax liens.

[dustel 0]

I have already consulted with a Bankruptcy attorney and it is possible for me to file and keep my house and my car and file on the rest of my debt. I dont want to do this but I dont see any other alternatives. My ex said he would pay for these debts when we divorced but he is having trouble making the payents.Thanks to everyone for your advice. I really appreciate it!

[Hank_ 9,174]

I have already consulted with a Bankruptcy attorney and it is possible for me to file and keep my house and my car and file on the rest of my debt. I dont want to do this but I dont see any other alternatives. My ex said he would pay for these debts when we divorced but he is having trouble making the payents.Thanks to everyone for your advice. I really appreciate it!

Was this agreement part of the divorce decree?

[dustel 0]

Was this agreement part of the divorce decree?

[dustel 0]

Yes it was but since he never refinanced the loans and my name is still on the loans I will still be held responsible. I really at my wits end.

[JimVaPhuong 4,865]

Yes it was but since he never refinanced the loans and my name is still on the loans I will still be held responsible. I really at my wits end.

I hope you're talking to a bankruptcy attorney and not your divorce attorney for advice on the bankruptcy. Unless an attorney deals with bankruptcy on a regular basis then they might not be aware of the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) of 2005. The new law substantially changes the way bankruptcies are handled. A consumer who has the ability to repay a debt is now required to repay the debt. The courts will no longer forgive a debt just because a consumer asks them to. Under chapter 7 (the most common type) the consumer is required to liquidate assets to repay the debts, or pay them down as much as possible before the remainder of the debt will be forgiven. There is also a "means test" to qualify under chapter 7. Under chapter 11 the consumer is required to negotiate a debt payment plan with creditors. If they can't agree then the courts will order a payment plan. A chapter 13 filing can forgive unsecured debts like credit cards without requiring a payment plan, but it won't forgive secured debts like a mortgage.

Your creditors aren't obligated to do anything based on any part of your divorce settlement. That was an agreement between you and your ex-husband. Your debt contracts are separately enforceable by the creditor. However, you do have cause for a civil case against your ex-husband. You can sue him to force him to live up to the divorce settlement agreement.

Anyway, none of this stuff should affect your petition or visa application.

[dustel 0]

I hope you're talking to a bankruptcy attorney and not your divorce attorney for advice on the bankruptcy. Unless an attorney deals with bankruptcy on a regular basis then they might not be aware of the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) of 2005. The new law substantially changes the way bankruptcies are handled. A consumer who has the ability to repay a debt is now required to repay the debt. The courts will no longer forgive a debt just because a consumer asks them to. Under chapter 7 (the most common type) the consumer is required to liquidate assets to repay the debts, or pay them down as much as possible before the remainder of the debt will be forgiven. There is also a "means test" to qualify under chapter 7. Under chapter 11 the consumer is required to negotiate a debt payment plan with creditors. If they can't agree then the courts will order a payment plan. A chapter 13 filing can forgive unsecured debts like credit cards without requiring a payment plan, but it won't forgive secured debts like a mortgage.

Your creditors aren't obligated to do anything based on any part of your divorce settlement. That was an agreement between you and your ex-husband. Your debt contracts are separately enforceable by the creditor. However, you do have cause for a civil case against your ex-husband. You can sue him to force him to live up to the divorce settlement agreement.

Anyway, none of this stuff should affect your petition or visa application.

[dustel 0]

It is a bankruptcy attorney and I have taken the "means" test and I can not afford my bills and his bills too so it is all legitimate. I dont want to get out of this just because. I simply can not afford all these loans. All I wanted to know is if if it will affect my petition. Thanks to everyone for their advice.

[Gary and Alla 3,696]

I was just curious about something... My ex husband and I still have a car and some property with both of our names on the loans. He has tried to refinance them and can not get them in his name only. He is considering to stop paying for these things and there is no way I could afford to make the payments and pay for my own house car and etc. I was wondering if I filed Bankruptcy to have my name taken off the loans would this affect my K-1 petition? I make enough to sponsor my fiance but I dont know how Bankruptcy will affect the process. Thanks in advance!

No effect

It is a bankruptcy attorney and I have taken the "means" test and I can not afford my bills and his bills too so it is all legitimate. I dont want to get out of this just because. I simply can not afford all these loans. All I wanted to know is if if it will affect my petition. Thanks to everyone for their advice.

No effect

[BobnCherry 10]

I was just curious about something... My ex husband and I still have a car and some property with both of our names on the loans. He has tried to refinance them and can not get them in his name only. He is considering to stop paying for these things and there is no way I could afford to make the payments and pay for my own house car and etc. I was wondering if I filed Bankruptcy to have my name taken off the loans would this affect my K-1 petition? I make enough to sponsor my fiance but I dont know how Bankruptcy will affect the process. Thanks in advance!

I was in your position also and filed and it had no impact on my K-1 good luck.

B&C