QUESTION
Does it make a difference if I file for Chapter 7 before or after the divorce is final?
Asked on Sep 13th, 2012 on Bankruptcy - Missouri
More details to this question:
I am close to finalizing my divorce. We have no children together. We jointly own a condominium that may or may not be "under water." We have accumulated approximately $60,000 in unsecured debt and $245,000 on the condominium. She is unemployed, has stopped paying any of the credit card bills and the mortgage for several months. I am planning to file Chapter 7 bankruptcy as I have also been unemployed for two months until this week and have depleted my savings and IRA accounts. Since we are both listed on the mortgage, is her signature or agreement necessary for me to file Chapter 7?
11 ANSWERS
Criminal Law Attorney serving Fremont, CA
at
Steven J. Alpers, A Professional Corporation
Update Your Profile
No you can proceed on your own. Contact a lawyer. A chapter 7 will stop any property division from occurring or if it has occurred from being enforced against you.
Answered on Sep 27th, 2012 at 11:09 PM
Her agreement is not necessary for you to file bankruptcy. You should talk to your divorce attorney to see if it would be better to wait until after your divorce is final or better to do it before. The divorce decree may have an effect on dischargablity of some of your debts.
Answered on Sep 23rd, 2012 at 1:46 AM
No, you can file jointly, or individually, whether you are married or single.
Answered on Sep 19th, 2012 at 1:48 PM
Bankruptcy Attorney serving Concord, CA
at
William Rubendall Attorney at Law
Update Your Profile
Either spouse can file his or her own bankruptcy petition without obtaining the other's signature. However, in California cetain exemptions of property are not available unless a joint petition is filed or unless the non-filing spouse signs a waiver.
Answered on Sep 19th, 2012 at 1:48 PM
Real Estate Attorney serving New Port Richey, FL
at
Jay W. Moreland, P.A.
Update Your Profile
If you file while you are still married you can both file in the same bankruptcy case. After you divorce you will have to file two separate cases and pay two filing fees and probably twice the attorney's fees. You can file an individual case without your spouse, but your spouse will then become solely responsible for any joint debts that you have discharged. Filing jointly discharges the debts for both of you at the same time.
Answered on Sep 19th, 2012 at 1:46 PM
Appellate Attorney serving Grosse Pointe Farms, MI
at
Musilli Brennan Associates, PLLC
Update Your Profile
No, you may file without her signature, However you should see a bankruptcy attorney immediately as you are spending some assets, such as your IRA's, which will lead to a tax liability and would be preserved in a bankruptcy,
Answered on Sep 19th, 2012 at 1:41 PM
Bankruptcy Chapter 7 Attorney serving Fort Collins, CO
at
The Salas Law Firm LLC
Update Your Profile
It does make a difference and I would generally say to wait until after the divorce is final, but there are reasons to file before the divorce is final depending on the situation..
Answered on Sep 19th, 2012 at 1:39 PM
Criminal Defense Attorney serving Deltona, FL
at
R. Jason de Groot, P.A.
Update Your Profile
Her signature would be required if she files a bankruptcy with you, but not if you wait until the divorce is final.
Answered on Sep 19th, 2012 at 1:38 PM
Bankruptcy Attorney serving Livonia, MI
at
Charles J. Schneider, P.C.
Update Your Profile
It may make a difference. You don' t need her consent.
Answered on Sep 19th, 2012 at 1:37 PM
Bankruptcy Attorney serving Phoenix, AZ
at
Law Office of D. L. Drain, P.A.
Update Your Profile
It depends on what you want to accomplish. Divorce and bankruptcy brings in short and long term issues. Truthfully it is best to talk to a competent bankruptcy attorney before deciding what to do next. Also, understand that filing for bankruptcy is a very complicated process. It is wise to talk to an experienced bankruptcy attorney before deciding to take this important step. Most Arizona bankruptcy attorneys offer a free consultation about the basics of bankruptcy.I am attaching a link to some free videos that explain how bankruptcy works.
Answered on Sep 19th, 2012 at 1:37 PM
3 Awards
Generally speaking, if you file Chapter 7 bankruptcy together before the divorce the divorce will run much more smoothly and you will both save money. The cost of a joint bankruptcy is approximately the same as filing on your own. You get a 2 for 1 and there are no debts to fight over.
Answered on Sep 19th, 2012 at 1:31 PM