Helping Florida Families Through Complex Bankruptcy Matters
One of the most frequent questions that married people ask when they are considering their debt relief options is, “What will happen to my spouse if I file for bankruptcy?” Unfortunately, there is not an easy answer to that question. It depends on your personal circumstances and whose name is on which debts.
At the Price Law Firm in Orlando, we represent clients in all types of consumer bankruptcy matters, including Chapter 7 and Chapter 13. Our lawyers help clients throughout central Florida in a variety of consumer bankruptcy matters, including Chapter 7, Chapter 13 and foreclosure issues. When you hire our firm, we work tirelessly to help you find the debt relief solution that helps you achieve your goals and protects your family to the fullest extent possible.
Important Considerations When Only One Spouse Files for Bankruptcy
In most marriages, many of the larger debts are co-signed by both spouses, such as mortgages, auto loans and credit cards. If one spouse files for bankruptcy it does not provide any protection to the other. Creditors have the right to, and will, pursue collection activity against the non-filing spouse.
In some cases, it makes more sense for both spouses to file for bankruptcy. That way, both are protected under the automatic stay, all debts — joint and separate — can be included in the bankruptcy, and it doesn’t cost that much more for the second spouse to file. However, one spouse can file for bankruptcy without involving the other spouse. Sometimes this is the best option for both spouses. Let us help you to determine the best option for you.
To learn more about your bankruptcy options, contact the Price Law Firm. From our offices in Altamonte Springs in the Orlando-Kissimmee metro area, we represent clients throughout central Florida. To schedule a free consultation with an attorney, call 407-834-0090.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.