Individual vs. Joint Bankruptcy | Orlando Lawyer

Filing for Bankruptcy As an Individual or a Couple

For married couples, the decision to file for bankruptcy affects not only one spouse, but both of you. In many situations, filing for bankruptcy as a couple is preferable to having one spouse file on his or her own. If you or your spouse is considering bankruptcy, the first thing you should do is speak to an experienced attorney about your options.

At the Law Office of Paul L. Urich, P.A., we help couples decide whether to file bankruptcy individually or jointly. There is no one-size-fits-all approach to the question of whether you should file together or separately. When you come to our firm, we will listen to your concerns and give you an honest opinion about whether joint or sole bankruptcy would be better, given your particular situation.

To arrange a free initial consultation with an experienced Florida bankruptcy lawyer, please call 407-896-3077 or contact our Orlando law firm online.

The Advantages of Filing a Joint Bankruptcy Petition

Contrary to what you may have heard, joint bankruptcy is usually the best choice for a couple. Whether you are filing for Chapter 7 bankruptcy or Chapter 13 bankruptcy, there are many reasons why a joint filing is preferable, including:

  • Costs: Filing a joint petition means you only have to pay court filing fees one time. Filing separately means you have to pay the filing fees twice.
  • Shared debt: If both spouses have debts together, filing jointly provides much better protection than filing separately. For example, if you are both named on a car loan but only one of you files for bankruptcy, your creditor can pursue the non-filing spouse for payment.

Things to Consider

The decision to file jointly or separately is a very important one, and many things must be taken into account. Most importantly, you need to remember that if you choose to file individually, the non-filing spouse will still be involved. The non-filer's income and debts will still be considered by the court. Usually, it simply makes more sense to file jointly unless your combined income causes you to fail the Chapter 7 means test.

When you visit our law office, the best thing you can do is bring the financial information for both spouses, even if you think you may want to file separately. We understand that it can be difficult to talk openly and honestly about your financial problems, but honest communication makes the bankruptcy process and the road to recovery much more predictable — and that is a good thing.

Contact an Orlando Spouse Bankruptcy Lawyer

To learn more about whether an individual or a joint bankruptcy would be better for you and your family, schedule your free initial consultation by calling 407-896-3077 or by contacting our law firm online.

We are a debt relief agency. We help people file for bankruptcy relief under the U.S. Bankruptcy Code.

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