One of the reasons that you might want to file or consider filing bankruptcy with your spouse is the situation where both you and your spouse have joint obligations, especially if you have joint credit card obligations, if the credit card debts are significant. Another reason to file a joint bankruptcy case is, for example, if your house is jointly titled. In Georgia, as a single individual, you’re able to protect $21,500 in equity in your home.
However, if the house is titling both of your names, you’re able to protect a total of $43,000, so in a nutshell, basically, you’re doubling the amount that you can protect. In thinking about whether you want to file the bankruptcy with your wife or your husband, if you don’t have or they don’t have a lot of debt then it’s probably not a very good idea to file a case together with them. For example, if one of you has $100,000 worth of debt and the other person only has $10,000 worth of debt then it’s really not worth it for the person with $10,000 in debt to file. Please call me at 770-792-1000.
Bankruptcy FAQ:
Frequently Asked Questions: Table of Contents Who is permitted to file and maintain a chapter 7 case? Who should not file a Chapter 7 case? Is there anything that a person must do
The injunction is formally issued pursuant to 11 U.S.C. 362(a), commonly referred to as the Automatic Stay provision of the bankruptcy code, and it prohibits creditors from making further attempts to
In a recent case, In re Beck Mrs. Beck filed for bankruptcy protection but her husband did not. Together they owned a property which was valued at about $530,000.00. The property had actually been in
The Chapter 7 trustee objected to Mrs. Goulakos’s claim of exemption because she did not live in the house and because she was not the one who claimed the homestead exemption under Massachusetts