Are You Filing for Joint Bankruptcy?

Filing Single vs. Jointly

If you are married and are considering filing for bankruptcy to discharge your debts the question will come up on whether you should file jointly with your spouse. There are many factors involved in making this decision and you should speak to a qualified and experienced bankruptcy attorney at Cain & Associates, PLLC before making your choice. We have helped many individuals and married couples through bankruptcy to free them from the burden and stress caused by overwhelming debt.

When filing jointly in the State of Tennessee each spouse is allowed their own separate list of personal exemptions and in many cases this will be advantageous to protect more of their assets. It also saves money as if they file separately they will both have to pay the filing fee. As it is very common for the debts to be in both spouses’ names filing jointly will prevent collection agencies from continuing to pursue one spouse who has not filed to collect on the mutual debt. While both will need to provide all their financial information it is much easier for the court to process a joint filing than two separate cases.

Is filing jointly right for you?

There are several reasons that filing jointly may not be possible or advantageous. Some of these reasons are that one spouse may have a prior bankruptcy that prevents them from filing. What if one spouse does not want to file for bankruptcy? It may also be the case that your combined debt exceeds the allowable chapter 13 limits.

When you meet with us we for your free consultation we can review the different options and look at the pros and cons that filing jointly may provide. If the debts are shared but one spouse has considerably more assets to protect than the other it may not be the best decision to file jointly. Even if you do file separately the court may decide to combine the two cases but this is rare. We are ready to help you discharge your debts through bankruptcy either by filing singly, together or separately based on achieving the best possible result for your family. Take the first step and get informed, contact Attorney Cain for more information on whether filing jointly for bankruptcy might be right choice for you.

The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship.
Cain & Associates, PLLC - Nashville Bankruptcy Lawyer
Located at 2874 Elm Hill Pike Nashville, TN 37214. View Map
Phone: (615) 649-5485