Bankruptcy, Married Couples & Divorce
Bankruptcy, Married Couples & Divorce
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Bankruptcy for Married Couples: Filing Options
If you are married and considering bankruptcy, you'll have to decide whether to file separately (that is, only one spouse files for bankruptcy and the other is not part of the case) or jointly (both spouses file together).
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Will My Bankruptcy Affect My Spouse?
Generally, whether your bankruptcy will affect your spouse will depend on whether you have joint property or debts, the property laws of your state, and whether you file for Chapter 7 or Chapter 13 bankruptcy.
What Happens to Joint Debts and Property in Bankruptcy?
What Happens to Joint Debts and Property in Bankruptcy?
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What Happens to My Cosigner in Chapter 7 Bankruptcy?
Chapter 7 bankruptcy discharges most unsecured debts. However, despite your bankruptcy filing, if you have a cosigner on your debts, your cosigner will still be responsible for it after your Chapter 7 case. Learn why.
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What Happens to My Cosigner if I File Chapter 13 Bankruptcy
If you file Chapter 13 bankruptcy and you have debt with a cosigner, your bankruptcy could affect the cosigner.
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How Is Joint Property Treated in Bankruptcy?
How your bankruptcy filing will affect your spouse and the property you own together will depend on factors such as the bankruptcy chapter you file, how you own the property, and the marital property state laws.
