You can list the debt you owe to your mother-in-law in your bankruptcy. However, this will only discharge your legal obligation to her. It will not discharge her debt to the bank or prevent the foreclosure of her home.
You can reach Harkess & Salter LLC at (303) 531-5380 or info@Harkess-Salter.com. Stephen Harkess is an attorney licensed in the state and federal courts of Colorado. This answer is for general information only and does not create an attorney client relationship between Stephen Harkess or Harkess & Salter LLC and any person. You should schedule a consultation with an attorney to discuss the specifics of your legal issues.
Bankruptcy law requires you to list all of your debts. The fact that there may be a repercussion to someone else as a result is immaterial to you obeying the law.
Get yourselves the best bankruptcy attorney you can find and follow his/her advice!
Hope this perspective helps!
The failure to list every debt, every asset and every transaction is a felony that can land you in federal prison and result in denial of your discharge.
Get a good bankruptcy lawyer (feel free to call me) to determine how to best deal with the debt.
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