Should Husbands and Wives File Jointly for Bankruptcy? -

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Saturday, Oct. 11, 2008

Should Husbands and Wives File Jointly for Bankruptcy?

They are permitted to, but whether it is to their advantage depends on many factors, such as how closely entwined their finances are and whether they live in a community property or separate property state (see the chapter, "Family Law") They're best advised to seek the counsel of a bankruptcy lawyer well versed in the law of their state. If they both file bankruptcy at the same time, only one case filing fee with required changes (in all about $200) will have to be paid to the court in a Chapter 7 or 13 case.