Should You and Your Spouse File Bankruptcy Alone or Together?

Understanding How the Bankruptcy Laws Affect Married Couples

If you are married and considering filing bankruptcy, you may be wondering whether you should file alone or whether you and your spouse should file together. At Gingold & Gingold LLC, we help our clients get answers to this question by looking at the following factors:

  • Most spouses have joint debts. Most mortgages and auto loans are joint debts, and many people's credit cards have both spouses' names on them. If both spouses are liable for a debt, it is a good idea for both spouses to file bankruptcy.
  • Both spouses' incomes must be reported. Whether you file bankruptcy alone or you and your spouse file together, both of your incomes will need to be reported to the bankruptcy court and will play a role in the type of bankruptcy filing you can pursue.
  • Filing bankruptcy will help you establish good credit. Some people think that only one spouse in a household should file bankruptcy so that the other can still have good credit. In fact, if you are unable to repay your debts, filing bankruptcy is usually the first step toward establishing better credit.
  • Get the best results for your family. Often, only one spouse is facing an immediate threat of something like wage garnishment, but the other spouse has serious debt issues as well. Filing bankruptcy together sets the whole family on the right path toward success.

Although we often encourage clients to file bankruptcy together based on these factors, every case is unique. If you come to our office for a consultation, we can evaluate your family's situation and advise you on whether it is best to file bankruptcy alone or together.

Filing Joint Bankruptcy in Georgia · Contact Us for a Free Initial Consultation

Our firm is made up of two experienced Atlanta metro area attorneys: Ira D. Gingold, who has been a bankruptcy lawyer since 1971 and Court-appointed Bankruptcy Trustee from 1971-2013, and Jamie L. Gingold, who has been practicing bankruptcy, business and real estate law since 2001.

To learn more about filing bankruptcy with or without your spouse, contact us today at (404) 685-8800 or by e-mail to schedule a free initial consultation.