If I am married must both of us file bankruptcy?
Full Question:
If I am married must both of us file bankruptcy?
01/05/2007 |
Category: Bankruptcy |
State: Alabama |
#187
Answer:
It is not required that both spouses file bankruptcy if one spouse decides to file. However, the non-filling spouse will still be liable on joint debts of the parties. It follows then that if the majority of debts are in both spouses names, both spouses should file bankruptcy or the benefits of bankruptcy are lost.
However, if the majority of the debts are in one spouse's name only, it is not necessary for both spouses to file, as the debts would be extinguished and the other spouse is not liable for them.
