Do both spouses have to file for bankruptcy?

worried couple sitting on a couch and looking at papers


By:Michael A. Cibik

Married couples can file together in a joint bankruptcy that combines both spouses’ debts and property into the same case. The overall goal is to discharge your debt and keep more of your property. In most cases, filing together will allow you to accomplish this.

When only one spouse files, the spouse who does not file becomes responsible for their own debts as well as any joint debts. To the contrary, if a spouse has a lot of individual debts that are not shared, filing alone may be more beneficial.

After review of your property both individual and joint, your attorney will be able to determine the most effective way for you to file. By filing a joint bankruptcy, you can save money on court and attorney fees because it usually costs the same as filing one case.

Michael A. Cibik, Esquire

Michael A. Cibik is a partner at the Philadelphia law firm of Cibik & Cataldo, P.C. He is one of the few bankruptcy attorneys in the Philadelphia area certified by the American Bankruptcy Board.

If you or someone you know is having financial problems, stop worrying and call Michael at (215) 735-1060 for a free consultation.


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