How is my spouse affected if I go bankrupt? Your spouse will not be legally affected by your bankruptcy just by virtue of being married to you One spouse is not liable for the other’s debts Unless he or she has agreed to pay them by co-signing or guaranteeing the debts Assets exclusively in the spouses name will not be part of the bankruptcy. There are several other things to consider: If he or she has a supplemental credit card, there may be liability for the amount spent on the supplementary card If assets have been transferred to the spouses name, the trustee will have to investigate the timing and circumstances of that transfer If assets are in both names, your trustee will talk to you about your options in respect of those assets and you usually will have options If your loans have been co-signed, your spouse will have to consider the options available for dealing with the creditors Also, remember that your not having credit cards will affect your family spending habits Talk to your spouse about making positive changes in your financial lives