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Can a joint Chapter 7 be filed by a divorced couple if most of their debts are still joint?
Probably not, since the divorce has been finalized. Although some states have bankruptcy laws that do include joint debts in this type of situation. W/O knowing the state of residency more specific information is not possible. You could consult the state bankruptcy laws for information that might pertain to this issue.
I am not aware of any State that lets a person file bankruptcy with an ex-spouse since it is the Bankruptcy Code that determines who may file bankruptcy, not the individual States. The Bankruptcy Code states in 11 U.S.C. § 302(a) "Joint Cases" that "A joint case under a chapter of this title is commenced by the filing with the bankruptcy court of a single petition under such chapter by an individual that may be a debtor under such chapter and such individual's spouse... ." Therefore, people who are not spouses (i.e. divorced) cannot file a joint bankruptcy in any State regardless of the joint nature of the debts. Persons who are in the middle of divorce (so that the divorce is not final) may file bankruptcy together so long as the bankruptcy filing date occurs prior to the divorce being final. If the divorce becomes final during the pendency of the case, this is okay so long as the bankruptcy was filed before the divorce was final. Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts, which I do not warrant, and I am not suggesting any course of action or inaction to any person.
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If the debts are joint, then yes, to get any benefit, you both have to file. If one partner filed and the other did not, and the debts are joint, you'll just shift the whole …burdon to the other partner. Contrary to popular belief, bankruptcy does not "destroy" your credit. You will be charged higher intrest rates at first, but if its a large item, you can come back later and refinance. (This applies mostly to homes). As far as credit cards, you'll start getting applications immediately after discharge.
If you filed Chapter 7 in Aug 2000 as a married couple but are now divorced can you file either Chapter 7 or 13 as a single person now?
NO. The six year rule still applies.
Answer yes. A joint account simply allows the creditor to collect from either party. If you file a chapter 7 without the other other person, your liability on …the debt will be discharged. Your discharge has no effect on the other person's liability for the debt.
Unmarried couple have a mortgage together no equity and its in foreclosure. Can he file a chapter 13 alone and repay both shares of arrearages or do I have to file too tho we have no other joint debt?
I am pretty sure that him filing chapter 13 would only cover his debts. If you contact a bankruptcy lawyer they can lead you in the right direction, but I think you woul…d still have responsibility being that you are also on the mortgage.
If you were legally separated or legally divorced on the last day of the year, you should file as single or head of household. Married Filing Joint or Married Filing Sep…arate would both be incorrect.
Sure. But his would seem to be a very minor amount to do so for. And if you have more than that amount in non-exempt assets, then those assets will be used to pay that… debt. (Bankruptcy effects all you debts and you assets, you do not pick and chose which ones are included).
You still owe on a chapter 13 plan for 2 more years should you file a chapter 7 to just clear up the debt?
No. You should be an honorable person and pay your debts. ans I like the first response. And realistically, you may well escape many debts at the conclusion of a C… 13...as they frequently don't pay off everything anyway. But, a question like this is exceptionally situational...and the first thing is, C-13 which requires at least some minimal payments to your creditors, is really a requirement under the BK laws. You may not qualify for a c-7 anyway.
Divorce will not affect filing chapter 7. If the divorce is final, you will have to file separate chapter 7s. If the divorce is not final, or has not happened, you can f…ile a joint chapter 7.
Can you divorce so that you can file for Chapter 7 Banruptcy get rid of the debt and then get married again?
It's not necessary to do that. (It's also fraudulent and expensive.) One spouse can file bankruptcy without the other spouse joining in, even if they live in the same ho…use. If the debt is joint, however, the other spouse will wind up being responsible for the debt anyway. This would be true even if the parties divorced and the other person was a cosigner on loans or credit card debts, so the divorce would not change anything. Also, the bankruptcy court is going to look back at least a year to see if there were transfers of assets including real estate between spouses, so you can't hide your assets by transferring them to your spouse in a bogus divorce. If the combined incomes of both spouses exceed the mean income for your state, that would make it necessary for you to make at least a minimum payment toward unsecured debt (though not necessarily all of the debt, depending on the amount of joint income) (Chapter 13). But the additional cost of a Chapter 13 would probably be less than the cost of a divorce and would take less time, too.
As long as you don't have to borrow or incur debt to pay the legal and filing fees.
Joint accounts are included in an individual bankruptcy claim. Just how much of the value of the joint account is considered as your asset depends on history of the acco…unt, the type of account, and statutory details for certain types of assets / debts.
No. As long as you are filing for bankruptcy by yourself, your money with your husband will remain joint. Keep in mind that any debts you may share with your husband will re…main with him as well.
Once the divorce is final, the couple cannot file a joint petition. If a "decree nisi" has been entered, but the divorce is not yet final, they can still file a joint peti…tion. yah you are right your comments i like it. do it yourself divorce
In a joint Tenant Surivorship Does the bankrupt owner still have ownership when they file chapter 7?
Yes he does, until the owner either dies or conveys his interest in the property, which would then transform the property from joint tenancy to a tenancy in commons. So if the…re is a joint tenancy and one of the owners files a BK, then half the property (its value) would be included in the BK.
NO, you can have a co-debtor.