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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 you have filed for bankruptcy as an individual, rather than as a couple, then you are only filing on your personal debts. Following this logic, only those funds that are y…ours (so your share of the bank account, if that is possible) will be "up for grabs." Your bankruptcy status should not have an effect on your partner.
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
The debt may be your responsibility, everything is shared on a joint account. Even if you weren't the one who incurred the debt, if for some reason the other party can't meet …their obligations (financial hardship, disappeared overseas, or died, for example) then you'll be liable for it instead.
The part of the body that allows animals and humans to bend andmove. it is bones in your body that help you or anyone or thing elsemove. . REAL ANSWER: . A joint is the l…ocation at which two or morebones make contact. They are constructed to allow movement andprovide mechanical support, and are classified structurally andfunctionally. The word is also a slang term for a marijuana cigarette.
yes, just keep your house exempt from the bankruptcy.
Bankruptcy will include all your assets and all your debts. You do not pick and chose what you want out of. No one will is expected to accept less, until you have surrender…ed and given up the value of all of what you have. (Minus minor exclusions). The people who have their debt secured get paid by the sale of secured asset, (the house) and if that doesn't generate enough money, than they become an unsecured creditor and collect from the sale of other things. So while some debts may be released, if you have enough assets to pay them, once liqaudated/re-arranged, then they will get paid instead. And certainly, the costs of having all this done will be on you.
Joints make us move and walk.
In some countries, such as the Philipines, if you are separated for 7 years the marriage is annulled. However, in the U.S.A., you must file for divorce.
No. The automatic stay takes effect and no creditor may proceed without the court's permission, called "relief from stay." If the claim is one that cannot be discharged, once …the case is closed, the creditor may continue its collection efforts.
ill get back to you on that!!
Answer Yes, non-married couples with joint debts must file separately. Married couples do not have to file jointly if there are no joint debts included in t…he filing. The exception is, if they live in a community property state, in which case the non-debtor spouse should also file to assure full protection of exempt property and prevent creditors from pursuing them for collection of the debt(s).
There is nothing that "removes" a name from a mortgage. That contract, like all contracts, is relevant until it is completed (paid). However, chapter 7 bankruptcy can dischar…ge the debt. On any joint debt that one party discharges through bankruptcy, the other account holder becomes 100% liable for the balance.
Can you forfeit most of your secured debts in a chapter 13 like you can in a chapter 7 if you you do not qualify for a chapter 7 but wish to liquidate as much as possible?
Answer A chapter 13 is a consolidation bankruptcy meaning the debtor presents a repayment schedule to the trustee/court. Secured debts are eithe…r reaffirmed or continued paid as agreed if there is not arrearages. Voluntary forfeiture of secured property such as a vehicle is still considered a repossession.
If you are legally separated or legally divorced on the last day of the year, you should file as single or head of household. You should NOT file as Married Filing Joint…ly or Married Filing Separately.
Not dischargeable in Chapter 7 are recent taxes; family support; debts to spouse arising from divorce; student loans ; drunk driving judgments; criminal fines or restitution; …or debts incurred by fraud or intentional wrongdoing. The complete list of non-dischargeable debts is found at 11 U.S.C. 523(a) and is set out in table form here at Discharge of debt in Chapter 7 Everything else is dischargeable: loans, credit card debts, judgments, medical bills, old income taxes. More on treatment of different kinds of debt in bankruptcy. Remember, liens and mortgages survive the bankruptcy: the debtor personally has no further liability for the debt, but the lien (a charge on the asset that is the collateral) survives as an interest in the asset. In appropriate circumstances, liens can be avoided because they impair an exemption or because the lien doesn't really attach to any value in the collateral. Talk to a qualified bankruptcy attorney or do some additional research.
No they cannot, as long as you included them in your bankruptcy. They would be in violation of Federal Law, and liable to suit and possible penalty from the bankruptcy court. …The bankruptcy attorney, or the trustee should be notified about any collections on a bankruptcy account.
Avoid filing if you can. There is no easy way out. The option of filing will still be there after the divorce if that's best for you.