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.