Articles Tagged with Joint Bankruptcy

Commonly asked questions of married individuals needing to file bankruptcy:

Do married couples have to file bankruptcy together? If you are married there are three options for filing bankruptcy: 1) file together, 2) file alone, or 3) both file separately. There are several factors to consider when deciding if you should file jointly or alone. The biggest factors being how are the debts split between you, how much does each of you make, and who owns the property.

What about joint and co-signed debts?  When a debt is joint or co-signed, both spouses owe 100% of the debt.  It makes no difference what name comes first or who the debt was actually for. If your name is on the bill, you owe the whole thing.  If you file joint tax returns then you both owe the tax debt.

Your Debts, My Debts and Our Debts.

Married and struggling with money problems? Thinking about filing bankruptcy? You know married couples can file bankruptcy together, they do it all the time. In most cases it’s better for them if they do. But, what if your spouse doesn’t want to file or has very little debt? Did you know you can file by yourself? There are many situations that arise when it makes more sense for just one of you to file by yourself. In some cases, you both need to file, but you each may need to file a different type of bankruptcy.

Question 1. “What debt are we trying to get rid of?”