Do both spouses have to file for bankruptcy?

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Married couples can file together in a joint bankruptcy that combines both spouses’ debts and property into the same case. The overall goal is to discharge your debt and keep more of your property. In most cases, filing together will allow you to accomplish this.

When only one spouse files, the spouse who does not file becomes responsible for their own debts as well as any joint debts. To the contrary, if a spouse has a lot of individual debts that are not shared, filing alone may be more beneficial.

After review of your property both individual and joint, your attorney will be able to determine the most effective way for you to file. By filing a joint bankruptcy, you can save money on court and attorney fees because it usually costs the same as filing one case.

Michael A. Cibik, Esquire

Michael A. Cibik is a partner at the Philadelphia law firm of Cibik & Cataldo, P.C. He is one of the few bankruptcy attorneys in the Philadelphia area certified by the American Bankruptcy Board.

If you or someone you know is having financial problems, stop worrying and call Michael at (215) 735-1060 for a free consultation.

The post Do both spouses have to file for bankruptcy? appeared first on Philadelphia Bankruptcy Lawyers.

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Cibik & Cataldo
1500 Walnut Street Suite 900
Philadelphia, PA 19102
(215) 735-1060
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Published by cibikandcataldobankruptcy

Cibik & Cataldo, a Philadelphia bankruptcy law firm, has provided superior, cost-efficient, and value-oriented legal services in a compassionate and respectful manner to thousands of clients. The Philadelphia law firm concentrates solely on consumer and business bankruptcy matters. Debt consolidation attorneys Michael A. Cibik, Esq. and Michael A. Cataldo, Esq. are both certified by the American Bankruptcy Certification Board and have filed well in excess of 20,000 personal bankruptcies. ABC Certification provides an objective standard that assists the public in making informed decisions when choosing counsel. Additionally, ABC certification encourages attorneys to strive toward excellence and recognizes those attorneys who have met ABC’s rigorous standards. Business Hours Monday - Friday 9am-5pm Cibik & Cataldo 1500 Walnut St Suite 900 Philadelphia, PA 19102 (215) 735-1060

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