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File Bankruptcy Individual vs. Joint

Should you file Individual vs. Joint?

Are you caught up in debt and unsure if you and your spouse should be filing joint bankruptcy? Watch this video by experienced Jamestown bankruptcy attorney Scott Humble to learn about your rights and options

“Scott Humble is helpful, successful, kind and respectful. I would recommend him to anyone. I was nervous about my whole situation until I stepped into his office. After my first appointment, which was free, it was smooth sailing and I felt more relaxed. I’m proud to call him my lawyer.”

Chris Miller

Last week I had a grandmother and her grandson come in at the same time, very similar fact pattern because they lived together. The grandmother co-signed on the grandson’s vehicle and they both were in financial trouble. As it all worked out, the grandmother was going to file the Chapter 7. She is going to go and wipe out a lot of unsecured debt. We’re also going to go and sever the co-sign between grandmother and grandson, so that if grandson can’t go and pay for the vehicle, she is not held responsible.

The grandson is behind on the vehicle; he’s not presently employed but he is working. They’re on the verge of repossessing and we’re going to file a Chapter 13 for him, which is going to protect that vehicle. It also is going to go and reorganize his payments for lesser payment because we’re going to stretch it out and we’re going to reduce the interest rate.

The last question they had as they’re almost walking out the door is “should we consider filing joint bankruptcy?” I wish I could, but the law is very specific that filing joint bankruptcy is reserved specifically for those that are married. If you’re married, we can certainly go and file joint cases. There are a couple of things I want to say about that, though. I have lots of clients come in and say okay, we’re married, do we have to go and both file? The answer is absolutely not. We can go and file one or the other or joint, it’s up to you. You definitely don’t have to file joint just because you’re married.

If you’re considering filing for bankruptcy and have questions, contact experienced Bankruptcy Attorney Scott Humble for a consultation.

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Next Article:  Bankruptcy and Keeping your House

Filing for bankruptcy can feel like the end of your financial life, but it’s really the beginning. The New York Bankruptcy Guide was created by Jamestown bankruptcy attorney Scott Humble to show residents how to become free of debt without sacrificing their personal belongings. Download our FREE Bankruptcy Guide.

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