Queens Bankruptcy Lawyer
Should you and your spouse file jointly for bankruptcy?
If you are married, are in a ruinous financial situation and are considering filing a bankruptcy petition to relieve you of your debt, you are probably questioning whether it is better for you to file on your own or to file jointly with your spouse. The legal team at Blutter & Blutter is very experienced in bankruptcy law and is waiting to discuss your options with you. By contacting a Queens bankruptcy attorney at your earliest opportunity, you can get help to weigh your options and decide on the most appropriate cour se of action in your case.
If you and your spouse file together, you will be able to double your bankruptcy exemptions or property you can protect from creditors, unless otherwise noted in the law. Broad examples of exemptions include:
- A portion of the equity in your home
- Personal property
- Miscellaneous alimony and child support received
- Property of a business partnership
- Pensions and public benefits
- Tools of your trade
There is no reason to suffer through the pain of unremitting debt with continuous worries about which way to go in filing for bankruptcy when an experienced attorney at the firm can assess your situation and offer guidance as to your best available options. With over 55 years of combined legal know how, the firm is your best choice for knowledgeable, skilled assistance in bankruptcy matters .
Pros and Cons of Filing Joint Bankruptcy
It is important to consider that if you decide to file bankruptcy by yourself, your spouse will be liable for any debts you have together and if your debts are discharged, they may still show up on your spouse's credit report. Conversely, in some cases where only one spouse has debts or one spouse has debt that isn't dischargeable, it might make sense to only have one spouse file. Decisions about whether to file jointly as a married couple are extremely complicated and are best undertaken by knowledgeable attorneys at the firm who can alleviate your stress during this upsetting time.
For guidance as you decide whether to file bankruptcy jointly, contact a Queens bankruptcy lawyer at Blutter & Blutter at your earliest opportunity.