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Florida Bankruptcy Means Test: Eligibility and RequirementsSteps To Determine Eligibility for BankruptcyChapter 7 Bankruptcy
Chapter 7 BankruptcyWho Qualifies for Chapter 7 Bankruptcy?Debt to be DischargedMy Assets and Chapter 7 BankruptcyAdditional Chapter 7 BenefitsChapter 13 Bankruptcy
Chapter 13 Bankruptcy FloridaIs Filing for Chapter 13 Bankruptcy the Best Choice For You?Why File for Chapter 13 Bankruptcy?How Chapter 13 WorksThe Chapter 13 ProcessMeeting Chapter 13 QualificationsDiscover the Benefits of the Chapter 13 Repayment PlanBenefits of Chapter 13Chapter 13 Bankruptcy AttorneyChapter 7 vs Chapter 13
Chapter 7 vs Chapter 13Chapter 7 BankruptcyWill You Qualify for Chapter 7 Bankruptcy?Chapter 13 BankruptcyChapter 13 Bankrutpcy Timeline
Chapter 13 Bankrutpcy TimelineChapter 13 Bankruptcy in Florida - What will happen?Chapter 13 TimelineChanges During the Three to Five-year Repayment PeriodWhat if I have filed for Chapter 13 bankruptcy before?Filing bankruptcy is a complex decision for married couples. In many cases it is better to file jointly rather than one spouse filing on their own. It is important to seek advice from an experienced bankruptcy attorney early on to determine what is right for you.
SunCoast Law will point out the pros and cons of filing bankruptcy both individually and jointly. There is no standard solution that’s right for every couple seeking relief through bankruptcy. Because of this an attorney will consider all of the factors in a particular financial situation before advising you on the best course of action.
Regardless of whether you file a Chapter 7 bankruptcy or a Chapter 13, if you are a married couple joint bankruptcy is usually the best option. Some advantages to filing jointly include:
Costs: By filing bankruptcy jointly you will only pay court fees once. If you file separately you will have to pay fees twice.
Shared debt: If you share debt as a couple it is best to have loans discharged in both your names. If for example you are both co-borrowers on an auto loan and only one of you files for bankruptcy, the lender can still seek payment from the spouse who did not file.
Things to Consider
There are many things to consider when making the decision to file bankruptcy if you are married. If you decide to file bankruptcy individually, your spouse will still be connected to the bankruptcy. The Court will base decisions on both of your incomes and debt. It is generally advisable to file joint bankruptcy unless combining income renders you ineligible for Chapter 7 bankruptcy.
When you attend your initial consultation with us it is best to bring all financial information for both spouses. Even if you are considering filing bankruptcy individually, our attorney will want to examine all of your information before advising you on the best option for debt relief through bankruptcy.
To discuss your individual circumstances with an attorney and to learn whether a joint or individual bankruptcy is right for you, contact SunCoast Law at, (844) 330-2727.
We offer debt relief solutions in compliance with U.S Bankruptcy Code.
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