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Just had a hard talk with a relative of mine. He and his wife both filed for bankruptcy in 2004. There is also a lien against his wife in 2004 for $7000.00. She last worked in 1999 or 2000. Suffers from bi- polar as a teenager and withheld that info from him, goes on spending sprees and alcoholic binges etc. Then there are times when she appears so normal that we did not know. She carries her maiden name. Have been doing so for a long time. (Three kids and she had each child's surname hypenated with both surnames when they were born. He didn't mention that but we got photos of kids and saw surname at the back ). Their land phone is her maiden name. They live in a rental home.
He did not spell out that they needed help but I suspect it shall be next. Since the lien is in her name, is he responsible if they got divorced ? If the lien was $7000.00 in 04 approximately what would it be now. What would have caused the governement lien since they never owned property and why against her and not both of them ? He did not say that he planned to get divorced but I believe it will happen at some point. Can I assume that by 2011 "bankruptcy " will be removed from around his neck and he will be able to get credit or better credit ? If he remarried later on does his filing for bankruptcy affect his next wife. My parents are thinking that that may be his only way at starting over financially. Guess it is something like piggy backing on someone else. He is now 50. Any thoughts you can share will be appreciated.
It depends entirely on their state's laws regarding property and debt in a marriage. In some states both partners become equal partners in all debts and property, in others if it was acquired before the marriage it stays separate.
You really need a state-specific lawyer to address these issues.
It does vary state to state but generally any debt aquired during the marriage is shared debt.
My bro. had to file bankruptcy when he divorced his first wife. Seem like it was 7 yrs. before it was off his credit record. As far as I know this did not affect his second wife.
Eewww... hmm...this is a tough one. I agree with the poster that it's going to depend on the states laws for where they live and that community property between spouses and all that fun stuff.... although, to me, she is responsible for this lien.
They live in San Fransico CA. My sister thinks that if he remarried and the second wife wanted a home it would be difficult as he would not have a good credit score. She also thinks that bankruptcy lives with you longer than 7 years but I guess we will see. No one seems sure about the lien; Thanks for your info.
Liens usually exist until they are satisfied or you convince a judge to dismiss them. One house I bought had a lien against it, the seller had to pay the lien before he could complete the sale to me and the lien had been placed several years earlier.
A lien is placed against something valuable, so she must have some property of some kind, or there would be nothing to place a lien against.
A bankruptcy will stay on the credit report for10 years, if he remarried the only effect it would have on his new wife is if they wanted to buy something together and his credit score was still affected by the BK.
As scarmig mentioned liens are placed against property. If she doesn't have property she could be confusing it with a judgment which are usually good for 7 years but can under certain circumstances and certain state's laws be renewed.
One thing to keep in mind. Bank accounts (even those jointly held) are subject to levy by a judgment creditor in all states. A joint bank account will be "frozen" by the court before any monies are withdrawn to allow a non debtor account holder to provide proof of what percentage of the funds belonging to them.
Certain they DON'T have any property. Just told it is a "tax lien". My sis told me she had someone check it out as well and got same response - tax lien. After reading the responses here I am left wondering if there is more to it as it seems that a tax lien can only be filed once the person has property. Thanks anyway. For right now I will just wait and see if he does call again and also wants to talk. Just wanted to prepare myself as I am neither familar with bankruptcy nor the lien and may end up having to bail them out.
If you decide to help them *PLEASE* call a lawyer that specializes in these things, not just to make sure you help them out in the best way possible, but so that you don't accidentally make yourself liable for their debts.
In fact, just getting a lawyer to review it may be the best help you can give them. Sometimes the best way to fight the scum-sucking sharks is to get one of your own.
Tax lien could be an IRS tax lien and they NEVER go away, they just keep accruing interest and penalties. They are not subject to bankruptcy or any other means to clear the debt except payment. An IRS tax lien is not subject to state laws nor to joint property although the property of a spouse may be used to satisfy the debt. CONTACT A LAWYER
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