Page Law Firm

Free consultation for consumer bankruptcy clients

Call Us214-618-2101

Proudly serving Frisco, Texas and surrounding areas
Facebook Twitter LinkedIn
Subscribe to this list via RSS Blog posts tagged in filing without your spouse

Frisco bankruptcy lawyersIt is a common belief that being married means that you will automatically be responsible for any debt that either of you incurs. While it may be true that the property you acquire during your marriage could be considered joint assets, the same is not always true regarding debts. In fact, in most cases, you can  only held be responsible for your partner’s financial obligations if both of your names are used when incurring the debt. As a result, it is not terribly unusual for just one spouse to file bankruptcy on his or her own, leaving his or her spouse’s name off the filing. Many such situations occur when only one spouse is struggling with debt and in need of a fresh start. A qualified bankruptcy lawyer from The Page Law Firm can help you determine if filing without your spouse is the right choice for you.

Community Property

As you determine whether to file bankruptcy with or without your spouse, you need to look at the big picture. Texas is known as a “community property” state, which means that most, if not all, of the property that you and your spouse acquire during your marriage is considered to be jointly owned by both of you as the “community.” Therefore, when you file for bankruptcy—even in your name alone—you will list all of the assets that you are your spouse own jointly.

File Jointly or Individually?

The decision to file bankruptcy individually or jointly with your spouse will depend on the specifics of your unique situation. In a community property state such as Texas, it is important to consider how the filing will affect your spouse. Filing for bankruptcy together can offer a variety of benefits, including the elimination of many of your joint debts.

...
National Association of Consumer Bancruptcy Attorneys State Bar of Texas
Back to Top