You might be surprised at how often people ask this bankruptcy question. Declaring bankruptcy when you are in a marriage means that there are others to be considered and the process is much more complicated than if you were on your own. There is information you must be aware of when filing a bankruptcy without your spouse before you start the process.
Most couples decide to have a joint account they can use for income collection, paying household bills, spending, etc. The decision to have a joint account can be very beneficial when you and your spouse are trying to manage a household together. But the answer to this question is yes. You still can file for bankruptcy independently when you have joint bank accounts with your spouse.
If you are filing to declare bankruptcy on your own behalf, you must be aware that your spouse will receive the remaining debts that the joint account has. Be sure that the two of you are fully aware of the consequences before starting the bankruptcy process. Ask an attorney during your consultation session to get a clear idea of how the process will affect your entire family. Choose the right bankruptcy chapter to ensure that the declared bankruptcy will help you with your future goals.
There are many reasons why people declare bankruptcy on their own. One of the most common is to preserve their spouse’s credit score. Declaring bankruptcy could be the best way for you to manage your finances that have already gotten out of control. You and your spouse must talk with each other and an attorney before deciding to declare bankruptcy and start the filing process.
The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for advice regarding your individual situation. We invite you to contact us and welcome your calls, letters and electronic mail. Contacting us does not create an attorney-client relationship. Please do not send any confidential information to us until such time as an attorney-client relationship has been established. Content Copyright 2018. Information contained herein has been obtained from various sources, including legal textbooks, personal opinion, research on the internet and other locations. Information, content, layout and style are believed to be from public domain sources and not a conflict with intellectual property of others. Site design is from a template and modifications of a template. Attorneys not certified as specialist in any area of law.