Can Joint Bankruptcy Provide Relief From Marital Debt?
Are you in a marriage or facing divorce and struggling with serious debt problems? You might have questions about the options available to you, and you might be wondering about the process of filing for Chapter 7 or Chapter 13 bankruptcy, what the right timing for bankruptcy and divorce is, and what assets you can retain after bankruptcy.
At USADebt, our joint bankruptcy attorneys can help you find the answers you seek and the fresh financial start you need after dealing with marital debt. With board-certified consumer bankruptcy specialists on our legal team, we can walk you through the joint bankruptcy process, which can help you:
- Stop creditor harassment
- Avoid repossession of your car or other assets
- Avoid wage garnishments
- Stop foreclosure
We represent clients in the west Michigan area, with convenient office locations in Grand Rapids, Kalamazoo, Muskegon, Big Rapids and Lansing.
- We offer free initial consultations.
- Bring $100 to start bankruptcy case preparation.
At the law offices of USADebt, we have represented thousands of individuals in consumer bankruptcy filings.
Most joint bankruptcies involve separate debts as well as joint debts shared by both spouses, including credit card debt, mortgage payments, medical bills, bills in collection, miscellaneous charges, various personal loans, etc. In many cases, we find relief from all of these types of debt for each spouse.
Bankruptcy clients with mortgage payments have a choice. If they can afford to maintain the payments, possibly in a reorganized Chapter 13 payment plan, they can choose to keep the home and reaffirm the mortgage debt. Alternatively, some people choose to cancel the debt through Chapter 7 or Chapter 13 bankruptcy and surrender the home.
It is important to discuss joint bankruptcy with an experienced attorney. Our lawyers have helped many couples find debt relief through bankruptcy, and we can talk you through your rights and options. One option is to file an individual bankruptcy for one spouse and keep the other spouse out of bankruptcy. This is useful when the spouse not filing for bankruptcy has little or no debt or can manage their debt without bankruptcy help. The other option is to file jointly in order to protect both spouses from debt and give bankruptcy relief to both spouses. Our experienced bankruptcy attorneys can help you decide which option is best.
Learn More About Joint Bankruptcy And Divorce
If the couple is cooperative and in mutual agreement, we can represent both parties in a joint bankruptcy. This is much more convenient and cost-effective for many divorcing couples seeking bankruptcy relief, so long as there is no conflict of interest. If you have questions about joint bankruptcy or marital debt, we invite you to call 231-527-9595 or contact us online.