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Do We Have to File Chapter 7 Jointly?

Chapter 7, CHAPTER 7 FAQ'S, Chicago

In many ways, a married couple constitutes one legal and financial unit, but there are also many ways in which a wife and husband can operate separately in their financial lives.

  • Either spouse can apply for credit in his or her own name only.
  • Either spouse can start a business in his or her name only.
  • An inheritance may be considered separate rather than marital property.
  • Married people may choose to file income taxes jointly or separately.
  • Either spouse may declare bankruptcy without involvement of the other.

A generalized answer to the question of “Do we have to file Chapter 7 bankruptcy jointly?” is “No,” but there are some caveats. Naturally, a marriage will have an impact on a bankruptcy filing, whether or not both spouses file. For example, household income and expenses will include both spouses’ finances.

Also, any debt that is held jointly by both spouses will be discharged only for the person who files bankruptcy. The other spouse could be held liable for the entire debt by the creditor. In Illinois, this includes medical bills for either spouse. Illinois laws hold that medical expenses of either spouse or their dependents incurred while a couple is living together are joint debts of the two people. Therefore, in order to fully discharge medical debts in a bankruptcy, a married person will need to file together with the other spouse.

However, there are many circumstances in which married couples may not wish to file bankruptcy together, and sometimes this is the best decision when all factors are taken into consideration.

For example, a wife might not want to join in a bankruptcy filing, and she and her husband have $3,000 in joint credit card debts, in addition to other debts that are his alone. In this case, it may make perfect sense for the husband to file bankruptcy separately in order to eliminate the husband’s debt, even though this will mean that the wife will still be responsible for the $3,000 in joint credit card debts. Once the bankruptcy is complete and the Chapter 7 debt discharge is issued, the husband can join with the wife in repaying that debt.

Contact an Experienced Chicago Chapter 7 Bankruptcy Attorney

Bring your questions regarding Chapter 7 bankruptcy to our attention at Billbusters, Borges and Wu, LLC.& Borges, LLC. Only three lawyers in Chicago are certified in consumer bankruptcy by the American Board of Certification*. Two are partners at Billbusters, Borges and Wu, LLC.& Borges, LLC. Contact us to schedule a No Obligation Consultation.

*The American Board of Certification is accredited by the American Bar Association and sponsored by the American Bankruptcy Institute and the Commercial Law League of America. Federal law recognizes board certification in bankruptcy. The Supreme Court of Illinois does not recognize certifications of specialties in the practice of law and the certificate, award or recognition is not a requirement to practice law in Illinois.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

Billbusters, Borges and Wu, LLC.& Borges, LLC has offices in Downtown Chicago, South Side Chicago, Calumet City, North Riverside/Berwyn, Northwest Side and Schaumburg

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https://billbusters.com/wp-content/uploads/2018/10/filing-bankruptcy-jointly-in-chicago.jpg 350 505 adminlaw https://www.billbusters.com/wp-content/uploads/2019/01/highres-logo-billbusters-transparent-1030x412.png adminlaw2018-10-01 06:36:512018-10-09 08:25:38Do We Have to File Chapter 7 Jointly?

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Billbusters, Borges and Wu, LLC.
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Chicago, IL 60602

 


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Located in Chicago, the law firm of Billbusters, Borges and Wu LLC. represents clients throughout Illinois, including, but not limited to the cities of :Alsip, Arlington, Heights, Bellwood, Berkeley, Berwyn, Blue Island, Bridgeview, Broadview, Brookfield, Burbank, Calumet City, Chicago, Chicago Heights,  Chicago Ridge, Cicero, Country Club Hills, Des Plaines, Dolton, Elk Grove Village, Elmwood Park, Evanston, Evergreen Park, Flossmoor, Forest Park, Franklin Park,  Glencoe,  Glenview, Glenwood, Golf, Hanover Park, Harvey, Harwood Heights, Hazel Crest, Hickory Hills, Hillside, Hines, Hoffman Estates, Hometown, Homewood, Justice, Kenilworth, La Grange, La Grange Park, Lansing, Lemont, Lincolnwood, Lyons, Markham, Matteson, Maywood, Melrose  Park, Midlothian, Morton Grove, Mount Prospect, Niles, Northbrook, Oak Forest, Oak  Lawn, Oak Park, Olympia Fields, Orland Park, Palatine, Palos Heights, Palos Hills, Palos  Park, Park Forest, Park Ridge,  Posen, Prospect Heights, Richton Park, River Forest, River Grove, Riverdale, Riverside, Robbins, Rolling Meadows, Schaumburg, Schiller Park, Skokie, South Holland, Steger, Stone Park, Streamwood, Summit Argo, Techny, Thornton, Tinley Park, Westchester, Western Springs, Wheeling, Willow  Springs, Wilmette, Winnetka, Worth and All of Cook County IL.

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The information contained in this website is for general information purposes only. The information is provided by Billbusters, Borges and Wu LLC and while we endeavor to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

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