When Is Joint Bankruptcy A Good Option?

Money problems can be one of the major issues in any relationship. If you and your spouse are carrying a significant amount of debt, it may be worth your while to file a joint bankruptcy petition. Our Essex County lawyers can advise you on whether this would be a good option. Talk to one of our lawyers by calling 973-323-2953.

Helping Couples Throughout New Jersey File For Bankruptcy

At Levitt & Slafkes, P.C., we have more than 30 years of experience helping couples with large debt loads. We can help you eliminate that debt and have a better starting point to move forward with the rest of your lives. We will work closely with you to find and enact the best solution in your specific situation.We also help people obtain debt relief after divorce.

Filing Bankruptcy With A Spouse

If the majority or all of your debt is in both of your names, it makes the most sense to file jointly. If only one of you files for bankruptcy, a creditor can come after the one who still carries the debt incurred by both of you. By filing jointly, all of the marital debt, as well as any individual debt (excluding, among other things, student loans, child support and spousal support) is eliminated and neither of you are carrying that burden going forward.

Other advantages include:

  • Filing jointly can be less expensive as the fee is the same for a single or joint petition.
  • Our attorneys are happy to work with both of you to resolve your debt problems.

We will sit down with you to discuss the advantages and disadvantages of joint bankruptcy for your situation. If you decide to proceed, we will walk you through every step and are always available to answer your questions. We understand how much stress financial problems can put on a relationship. We want to help relieve you of your debt and the stress that comes with it.

Is Joint Bankruptcy The Right Option For You? Free Consultation

Contact our Maplewood law office to schedule a free initial consultation with one of our lawyers. You can reach us by filling out our online form or by calling 973-323-2953.