A married couple with only one spouse filing for bankruptcy may result in continued collection efforts against the other spouse. This is the worst case scenario. The non-filing spouse may then want to consider bankruptcy. In the event the non-filing spouse decides to later file bankruptcy, it will double the original cost for the household. The original filing spouse paid attorneys fees and the court filing fee. Now, the second filing spouse will also need to pay attorneys fees and court filing fees. If both spouses filed bankruptcy at the same time, there would only be a single charge for attorneys fees and court filing fees. Married couples considering bankruptcy can obtain a free estimate for the cost by contacting our law office.
A married couple filing for bankruptcy may also want to consider a reaffirmation agreement for any secured debt
. For example, if both spouses have guaranteed the loan on a vehicle, filing bankruptcy for one spouse will remove that guarantee; however, the other non-filing spouse will remain liable.