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I’m Married—Should I File for Bankruptcy With my Spouse?

Posted by Cha'Ron Ballard on August 8, 2019

I’m Married—Should I File for Bankruptcy With my Spouse?

When you are married, filing for bankruptcy can be a big decision. If you and your spouse have found yourselves facing a serious financial situation, bankruptcy may be the best way to get a fresh start and get you both headed toward a more secure financial future.

The primary decision you will have to make when filing for bankruptcy while married is whether you will file individually or jointly with your spouse. Deciding which of these two options is best for your situation depends on several different factors, and both options have pros and cons you will want to consider.

Atlanta Bankruptcy Joint Filing

Filing for bankruptcy jointly with your spouse can be a good option because it can save time and money. When you file for bankruptcy with your spouse, you will only provide one set of papers detailing your financial situation—listing all of your property, income, debts, and expenses together. Filing jointly can save you money on legal and filing fees and can simply be more convenient due to the fact you can go through the process together. You can also increase exemption amounts for jointly held property when you file together.

However, filing together may not always be the best option. In situations where one spouse owns significant property (above what would be exempt in Georgia) or one spouse has significant non-dischargeable debts (such as child support) filing separately may be the better choice.

Atlanta Bankruptcy Individual Filing

As previously mentioned, filing individually, or separately, from your spouse can be the better choice in certain circumstances. For example, filing separately may be the best option if:

  • your spouse has previously filed for bankruptcy within the past 6-8 years and cannot refile yet,
  • Your combined income is too high and therefore you don’t pass the means test,
  • You want to wipe out your debts without harming the credit of your spouse.

These are just a few reasons why filing individually could be beneficial. Still, it is important to examine your specific circumstances to determine which is the best option for you and your spouse.

Get Legal Help with Your Georgia Bankruptcy

If you and your spouse are thinking about filing a Georgia bankruptcy, it is helpful to get advice and guidance about whether filing jointly or individually is best for your financial circumstances. To get answers about the best option in your case, contact the experienced Georgia bankruptcy attorneys at The Ballard Law Group. We are here to help you and your spouse navigate bankruptcy and decide which option will enable you to obtain the best results possible. We offer a free bankruptcy consultation to evaluate your situation and help you both understand how bankruptcy rules may impact you and how to use them to your advantage. Contact us today by calling 404-220-9906, booking an appointment online on our contact page, or chatting with one of our available representatives.

Want To Learn More?

Contact The Contact The Ballard Law Group for Debt Relief or Fill Out Our Questionnaire

We offer two convenient locations for appointments with our attorneys—Atlanta, GA and Lawrenceville, GA. Call us today at 404-220-9906 in Lawrenceville, GA or 404-220-9916 in Atlanta, GA or fill out the form and get started on the road to financial relief with a free initial consultation.

Our Locations

The Ballard Law Group

3664 Club Drive, Suite 203 A Lawrenceville, Georgia 30044

Phone: 404-220-9906

Fax: 404-220-9907

The Ballard Law Group

3355 Lenox Road, Suite 750
Atlanta, Georgia 30326

Phone: 404-220-9916

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