Bankruptcy & Spouses

Bankruptcy Attorney in Orange County

The Bankruptcy Code allows joint filing for married couples.  It is generally considered wise for married couples to file jointly when there are many jointly-held assets involved.  In addition, couples that have their finances joined together in many respects should consider joint filing.  In order to file joint bankruptcy, the debtors must be married.  Those that are not legally married will not qualify for bankruptcy.  Although in many cases, joint-filing is advised, for some it is not the best course of action.  It is important when considering whether to file for joint bankruptcy that one speaks with an Orange County bankruptcy attorney at one's earliest convenience. 

Orange County Bankruptcy Lawyer

When one files for bankruptcy as an individual, it is considered a very different process than when one files jointly.   In the state of California, married couples are not required to file bankruptcy jointly.  In some situations, it is considered prudent have only one spouse fie.  If any of the following circumstances apply to the marriage, it will most likely be more beneficial to file singly:

• The debts were incurred prior to the marriage
• The spouse not filing for bankruptcy has reason to prevent creditors from being allowed to collect payments from them
• If one spouse filed bankruptcy in the past 8 years, only one may be able to file presently             

There are many valid reasons why a married couple may decide to file jointly and separately.  Every situation is unique and should be reviewed by a qualified attorney.  The firm has been helping married couples successfully file for bankruptcy for years.  With over 25 years of experience in bankruptcy, the firm has helped many turn over a new leaf and regain their chance at life.  Call the firm today for a free consultation.

 Contact an Orange County bankruptcy attorney from the firm today.