Individual and Joint Filings
• Bankruptcy Areas •
A common misconception is that married couples have to file bankruptcy jointly. This is not necessarily true. You can be married and file a single bankruptcy. In some cases, one spouse filing a single bankruptcy may be preferable to both spouses filing a joint bankruptcy.
At the law firm of Hickson Law, PC, our Attorney certified in Consumer Bankruptcy by the Texas Board of Legal Specialization carefully analyzes every case before moving forward. She will review all options. She will determine whether you should file Chapter 7 bankruptcy or Chapter 13 bankruptcy. She will determine whether you should file as an individual or you should file jointly. All guidance provided will be based on a complete understanding of your specific financial situation.
Her firm has been helping people like you in Austin and throughout Texas since 1991.
Whose Name Is on the Debt?
While married couples often think of all debt as marital debt, bankruptcy law does not see it that way. Yes, if all debt is mutual and both spouses' names are signed to it, a joint bankruptcy filing may make sense. However, if all or the vast majority of the debt is under only one spouse's name, it may make more sense to complete a single bankruptcy filing. This method ensures that at least one spouse is protected from the effect of bankruptcy on credit.
Even when one spouse is filing individually, bankruptcy law requires that all household income and expenses are reported, so the non-filing spouse's information will be considered.