QUESTION
Can my husband and I file bankruptcy separately but at the same time of our combined income is too high?
Asked on Dec 26th, 2016 on Bankruptcy - Michigan
5 ANSWERS
Although you and your spouse can file bankruptcy separately, that will not solve your perceived problem of your combined income being too high. If you live together, bankruptcy law REQUIRES that your combined income be disclosed and factored into the calculations to determine if you are eligible for the form of bankruptcy you desire. YOU HAVE NOT DISCOVERED AN ORIGINAL LOOPHOLE in the bankruptcy law.
Answered on Feb 21st, 2017 at 5:59 PM
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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Eligibility for Chapter 7 bankruptcy is determined by household income, not the income of the individuals. Household income does not include the income of unrelated individuals who do not pool their income and expenses (for example, two unrelated roommates - even if they are domestic partners - who only split up rent and utilities aren't considered a household) but a married couple are.
Answered on Feb 21st, 2017 at 5:59 PM
Bankruptcy Law Attorney serving Livingston, NJ
Partner at
Law Office of Stuart M. Nachbar, P.C.
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You can but you should not. Court will probably consolidate cases.
Answered on Feb 21st, 2017 at 10:04 AM
No. Your combined income will be included on both filings even if separate.
Answered on Feb 21st, 2017 at 10:04 AM
Bankruptcy Attorney serving Alpena, MI
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Carl C. Silver Attorney at Law
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No.
Answered on Feb 21st, 2017 at 10:03 AM