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Can I File Bankruptcy Without My Husband Or Wife?
Author : Jim Brown
When filing bankruptcy in missouri or Illinois, you have a choice between filing with or without your spouse. In some instances, it is more beneficial to file separately and only include the filing spouse's debts. In others, you may want to include all of your debts, marital and separate, and file bankruptcy together.
Are there scenarios in which it is a good idea to file separate from your spouse?
- Any debtor in the life of a bankruptcy must first ask the court's permission to incur more debt. Having one spouse uninvolved could allow you to still incur debt as a couple, if needed. This is a path to consider if, for some reason, you need to incur debt in the immediate future.
- If the debt that needs to be eliminated mainly belongs to one spouse, you may not even need to involve the other one.
- A divorce or situation can make a bankruptcy a little messy. Why? A joint bankruptcy case means compromise and commitment to making decisions together. Making joint decisions is not easy when you are having marital problems. Just filing separately from the start may be in the best interest of both of you and help you avoid disagreements.
- If for some reason one spouse wants to wait to file bankruptcy, you can file separately at different times.
But before you jump into filing separately, make sure you know the possible after effects of doing so. For example, your non-filing spouse may be subject negative creditor action. One spouse may benefit from the bankruptcy protection but the other spouse may be left unprotected from creditors if you have joint debt.
These are the kind of questions for which a free consult with a bankruptcy attorney was created. There isn't an easy solution when it comes to deciding whether it is better to file separately or jointly. An experienced St. Louis bankruptcy lawyer, though, can predict the outcomes of both decisions and help you decide which move is the wisest to make.
It also wouldn't hurt for you and your spouse to gather all the right information about bankruptcy to make sure you are making an educated decision. Look for free information from reputable attorneys in your area like bankruptcy FAQ, articles, and blogs to help you decide the best move for you to make to get out of debt.
Author's Resource Box
Missouri Bankruptcy attorney James Brown has been working to relieve the debt of hard-working American families for over 15 years. He has dedicated his career to educating consumers about options for debt relief and has released 5 publications, including, Get Out of Debt: Secrets Your Creditors Dont Want You to Know. You can request a free copy at http://www.castlelaw.net
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Tags: bankruptcy faq, filing bankruptcy without your spouse, st louis bankruptcy attorney
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Submitted : 2010-07-16 Word Count : 1 Popularity: 462