When to File a Joint Chapter 7 Bankruptcy in Nebraska

August 1, 2019 | By Steffens Law Accident Injury Lawyers
When to File a Joint Chapter 7 Bankruptcy in Nebraska

If you're married and considering bankruptcy as a way to deal with your debts, one of the first decisions you must make is whether to file as an individual or file a joint chapter 7 bankruptcy with your spouse.

Reasons to File a Joint Chapter 7 Bankruptcy in Nebraska

A husband and wife should file a joint Chapter 7 bankruptcy in Nebraska if both of them are liable for one or more significant dischargeable debts. If both spouses are liable for a substantial debt and only one spouse files under Chapter 7, the creditor may later attempt to collect the debt from the non-filing spouse, even if he or she has no income or known assets.

Filing for a joint chapter 7 bankruptcy in Nebraska is also cheaper and more efficient than having one spouse file and later learning that the other spouse has too much debt.

Reasons to File Separately

If only one spouse files for bankruptcy, any property that is owned jointly is automatically protected. Filing separately may also make sense when there are minimal joint debts or the other spouse is worried about the effect on his or her credit score.

Making the Decision That's Right for You and Your Family

Each and every family is different, and many times, so are the reasons for filing chapter 7 bankruptcy in Nebraska. At Steffens Law Office, we understand how difficult a bankruptcy filing can be and we are here to help make the expereicne as smooth as it can possibly be. 

If you're interested in explore your options for dealing with your debt, or already know you want to file a joint chapter 7 bankruptcy in Nebraska, contact our firm online or give us a call at (308) 872-8327 to schedule a free, no-cost case evaluation with one of our experienced bankruptcy attorneys