Choosing the Best Option for Obtaining Debt Relief
Many married couples who are facing financial hardship often ask the same question: "Will my spouse be safe if I file for bankruptcy?" This is an extremely complex question whose answer is dependent on a number of specific factors. Be sure that you seek the advice of a reputable Arizona bankruptcy lawyer who knows the law.
At the Law Offices of Farnsworth Mortensen, PLLC, our team of attorneys, paralegals and support staff is dedicated to helping people find the right debt relief solution. From our offices in Phoenix, Mesa and Tucson, we represent clients in all types of consumer bankruptcy matters, including Chapter 7 and Chapter 13 filings.
What You Need to Know About Bankruptcy if You Are Married
The most important thing to understand if you are considering bankruptcy is that joint debts are the responsibility of both spouses. If you and your spouse both signed for the purchase of a home, car, credit card or anything else, and one of you files for bankruptcy, the creditor can, and probably will, pursue action against the nonfiling spouse to collect the debt.
On the other hand, if there is a debt that only one of you signed for, it can be included in a bankruptcy with no impact on the other spouse. When you hire our firm, we will provide a complete review of your finances, work to understand which debts are holding you back and work to develop a customized solution specifically designed to accommodate your needs.
Seeking the Best Option for Your Situation
In some cases, it might make the most sense for both spouses to file, allowing you to include any troublesome debt in the bankruptcy, without limitation. We will walk you through the entire process, working diligently to find the solution that best fits your needs. Contact our office today to schedule a free initial consultation.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
