Filing Jointly for Bankruptcy

Joint Petitions in Long Island Bankruptcy

Title 11, section 302 of the United States Code (USC) describes joint bankruptcy cases. According to this section, a husband and wife who want to file jointly for Chapter 7 or Chapter 13 can do so under a single petition, which means that they will not have to go through the process of bankruptcy twice to resolve their shared financial difficulties. The courts prefer in most cases to hear a joint petition, because it means they will have less administrative work to resolve the case. There is no specific law regarding the circumstances under which married couples can file together, and the degree to which their debts will be consolidated is at the discretion of the judge in the local bankruptcy court.

Because a large number of car loans, home mortgages and credit cards are in both spouses' names, as well as the fact that most couples share title in any property they own, the government recognizes that it is equitable to allow for joint filing. This approach to declaring bankruptcy will allow you to move through the entire procedure much faster and with less expense for administrative and filing fees. Because a joint filing will expose the assets of both marital partners to liquidation by the bankruptcy trustee for payment to your creditors, it is necessary to have the consent of your spouse. If you are considering this course of action for solving your debt, a Long Island bankruptcy attorney can meet with you to discuss your options.

Long Island Bankruptcy Attorney

For dedicated support during your bankruptcy, come to Blutter & Blutter. With over 50 years of shared experience, the attorneys at the firm have helped thousands of clients from all over Nassau, Suffolk, Queens and Kings counties who faced problems like yours. When you work with the firm, you will receive one-on-one service from an attorney, not an assistant or a paralegal. The firm provides zealous advocacy for those who are fighting to keep up with their debts and need relief. Come in to learn more about how declaring bankruptcy can help your family.

Contact a Long Island bankruptcy attorney for help with every aspect of a joint filing.