Top

Can Just One Spouse File Bankruptcy?

Question: I need to know if just one spouse can file for bankruptcy. We live in Cumming, Georgia.

When I married my wife it was a second marriage for both of us. Since we have been married we have kept our finances separate. We each have our own savings account and checking account and we each have our own investments in stocks and bonds. We have one joint account to pay household bills and the mortgage. We have been married for 8 years.

Before we got married my wife made some bad investments in a clothing business in Alpharetta, a jewelry store in Sandy Springs and a used car dealership in Cumming. So all her debt was incurred before we were even married.

She thought her ex-husband knew how to manage them but he didn't. He spent most of his time drinking and gambling at Indian casinos. The ex-husband ran up a lot of debt on her credit cards and she signed for personal and business loans for him. He lost all the money. She even used her inheritance to fund the businesses and now that has been totally spent.

I don't need to file bankruptcy. Can my wife be the only person in our family who files bankruptcy? Can just the wife file bankruptcy, or do I have to do it as well?

Answer: Under the bankruptcy code, one spouse can file for bankruptcy; both spouses do not have to file jointly. In our practice we have seen many married couples where just one spouse files for bankruptcy and the other one does not.

It's certainly helpful that you have kept your finances separate and you can show distinct savings and checking accounts. And, of course, the debt is in her name alone, not in yours.

About Us

When you need a Cumming bankruptcy lawyer, we are always here for you.

When you need a fresh financial start, the Sherman Law Group will help you navigate the system. You deserve help. So when you need a Forsyth County bankruptcy attorney to answer questions, just call us at 678-215-4106. We proudly serve the entire Atlanta metro area and North Georgia.

Categories: 
Related Posts
  • Georgia Bankruptcy: Potential Problems in a Hot Housing Market for Chapter 7 Filers Read More
  • Georgia Bankruptcy: FAQ's about the Coronavirus (COVID-19) Read More
  • Atlanta Bankruptcy: What Can Filing Bankruptcy Do to Help Me? Read More
/

Contact Our Offices

Whether you have questions or you’re ready to get started, our legal team is ready to help. Complete our form below or call us at (678) 712-8561.

  • Please enter your first name.
  • Please enter your last name.
  • Please enter your phone number.
    This isn't a valid phone number.
  • Please enter your email address.
    This isn't a valid email address.
  • Please make a selection.
  • Please enter a message.