Filing Joint Bankruptcy

Are you caught up in debt and unsure if you and your spouse should be filing joint bankruptcy? Watch this video by experienced Jamestown bankruptcy attorney Scott Humble to learn about your rights and options.

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Last week I had a grandmother and her grandson come in at the same time, very similar fact pattern because they lived together. The grandmother co-signed on the grandson’s vehicle and they both were in financial trouble. As it all worked out, the grandmother was going to file the Chapter 7. She is going to go and wipe out a lot of unsecured debt. We’re also going to go and sever the co-sign between grandmother and grandson, so that if grandson can’t go and pay for the vehicle, she is not held responsible.

The grandson is behind on the vehicle; he’s not presently employed but he is working. They’re on the verge of repossessing and we’re going to file a Chapter 13 for him, which is going to protect that vehicle. It also is going to go and reorganize his payments for lesser payment because we’re going to stretch it out and we’re going to reduce the interest rate.

The last question they had as they’re almost walking out the door is “should we consider filing joint bankruptcy?” I wish I could, but the law is very specific that filing joint bankruptcy is reserved specifically for those that are married. If you’re married, we can certainly go and file joint cases. There are a couple of things I want to say about that, though. I have lots of clients come in and say okay, we’re married, do we have to go and both file? The answer is absolutely not. We can go and file one or the other or joint, it’s up to you. You definitely don’t have to file joint just because you’re married.

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