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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 some creditors still contact you about preexisting debts after filing Chapter 7 what recourse do you have prior to contacting your attorney?
You can inform them of the Circuit Court (or whichever applies) the BK was filed, and the Case/Docket numbers. However, the attorney handling the filing should be notified. D…ealing with creditors is part of (or should be) the client and attorney agreement.
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.
You will report all debts. You will report all assets. Some of each MAY be uneffected in the process, but the must be considered in the process. You do NO…T pick and chose debts and assets YOU want to be involved.
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).
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.
It depends on where you live. Laws vary across states and countries.
What if you get a job before you file for bankruptcy but need to take it to pay your reaffirmed debt Can you still file for Chapter 7?
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.
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.
Generally speaking, there is not a minimum debt that qualifies you to file for bankruptcy but rather the court evaluates your income versus your debt to determine whethe…r bankruptcy is appropriate. Known as a "means test", it is a complicated calculation that determines your ability to pay your creditors and also compares your financial status with that of the average person in your area. You have to pass this test in order to file for Chapter 7. Also, prior to being able to file you will undergo credit counseling.
Generally speaking, when one spouse files for bankruptcy, the non-filing spouse should not be effected by this because they are only filing as to their individual debts. They… are still obligated to the joint debts they share with you. Additionally, if you are in the process of a divorce the fact that one has filed for bankruptcy does not extinguish his duties to pay the divorce settlement, child support, alimony, etc.
Assuming you mean a payment plan for a debt that a creditor got a judgment for in civil court, and you are asking if you can file Chapter 7 (and qualify to do so), yes, you ca…n, and the repayment agreement then is subject to the bankruptcy court automatic stay.
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.
How do you prevent losing money in a joint bank account when one person is filing Chapter 7 bankruptcy and the other is not?
You don't, if you want to keep your money, don't share you account with some who won't take care of it.