Call for a free bankruptcy consultation

Louisville |

502-485-9200

New Albany |

812-945-9200
Schwartz Bankruptcy Law Center

Do Both My Wife and I Have to Go Bankrupt?

If you are deciding to go bankrupt you may qualify for a chapter 7 or chapter 13 bankruptcy. As a married person you also have the option of filing jointly as a married couple, or just yourself. If you decide to file jointly then it may be that more of your property will be protected, and a greater number of your debts will be discharged. This is possible but no always the case. You should retain a Louisville bankruptcy lawyer so you will start your bankruptcy proceeding with the right advice.

Debt In Marriage

If you decide that a separate bankruptcy is what you want to do keep in mind that it can still have some effects on your spouse. This is partially determined whether your particular State that you live in is a community state or common law property stated. What this refers to is how the State looks at property that was acquired during your marriage. If you are in a common law state then the rules used for your property are equitable distribution. Under the community property laws the property is looked at as being equally owned by both of you.

The bankruptcy laws are very detailed and can be very confusing and this is why it is so important to have the right legal counsel to advise and direct you as to your best actions concerning your debt. As you can see with the different State laws they can different impacts on the property of the marriage and this is why it can still affect your spouse even if you are not entering into a joint bankruptcy.

No Comments

Leave a comment
Comment Information
Make A Payment Email Us For a Response

Need A Solution To Your Debt Problems?

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Make A Payment
Schwartz Bankruptcy Law Center

Office Locations:

Louisville Office
3339 Taylorsville Road
Louisville, KY 40205

Phone: 502-485-9200
Fax: 502-485-9220
Louisville Law Office Map

New Albany Office
501 State Street
New Albany, Indiana 47150

Phone: 812-945-9200
Fax: 502-485-9220
Map & Directions

Phone:

LOUISVILLE |

NEW ALBANY |

Fax: