Understanding Joint Bankruptcy
If you are facing financial difficulties and are married, one of the most important decisions you can make is whether you should file an individual or joint bankruptcy case. There are many causes for financial hardship that may force you to consider filing for bankruptcy, from unemployment to emergency medical conditions or even divorce, which would make a joint filing impossible.
No matter the reason, filing for bankruptcy can help you get out of debt so you and your spouse can have a fresh financial start. Whether you have debts in your own name or debts you share with your spouse, a qualified bankruptcy attorney can help. Contact the experienced Boston bankruptcy lawyers of Joshua Spirn & Associates at 800-975-5346 today.
Advantages and Disadvantages of Joint Bankruptcy
There are advantages and disadvantages to filing for joint bankruptcy along with your partner. Be sure to consult with a qualified legal professional if you have any questions. Some advantages include:
- If you both have to file for bankruptcy, a joint filing will be cheaper
- Filing is much more efficient when you file together
- Protection for jointly-held debts
- Both spouses free from harassing creditors
The disadvantages of filing for joint bankruptcy include:
- It might damage the credit record of a spouse who has previously not had financial problems
- It may lead to the dismissal of your case if either spouse has filed for bankruptcy previously and within a specified window of time
Contact Us
To speak with a qualified legal representative in order to learn more about your legal rights and options, contact the Boston bankruptcy lawyers of Joshua Spirn & Associates today at 800-975-5346.
