As a married individual you can choose to file bankruptcy on your own without your spouse. It is a common question asked upon married individuals since you can file a joint petition with your spouse, but you don’t have to. In some cases, it may be better for you to file without your spouse if the outcome is more beneficial.
Filing Bankruptcy as an Individual Without Your Spouse
If you decide to file bankruptcy as an individual without your spouse, there are several factors to review. It helps to get a clear understanding of your situation to learn if filing as an individual will work in your favor. You’ll want to review the benefits of filing by yourself verses with your spouse. Will there be repercussions or disadvantages if your spouse doesn’t file? You may also want to review potential benefits of a filing a joint bankruptcy .
If You Have Debt That is in Your Name Only
If you have debt that is in your name only and you are the sole person liable for the debt, it is likely filing solo may be the best option. Yet, if there are joint debts that a spouse wants to include in the filing, it may be a disadvantage for the other spouse. If one spouse files for protection for debt both spouses are liable for, the creditor may choose to collect from the other spouse. This can be prevented if you decide to file a joint petition to protect both spouses.
Review Your Situation With a Bankruptcy Attorney
Other factors to review with your bankruptcy attorney if a solo filing is a good solution for your situation includes joint assets you may want to protect, how long you and your spouse have been married, the type of debts in question and whether or not you reside in a community property state. If you would like to set up a free consultation with our bankruptcy attorneys feel free to contact us today to set up a free consultation.