If your financial situation is worsening despite the overhaul in your budget, it might be time for you to consult a bankruptcy law lawyer in Irvine. Our lawyer can assist you and your partner on how to file for bankruptcy as a married couple.
When filing for bankruptcy, you must decide whether or not you need protection. It is just one of the things you must consider when filing for Chapter 13. You should also consider a repayment loan.
Guidance of Bankruptcy Law Lawyer in Irvine
It is not easy to file for bankruptcy. That’s why you need the guidance of a lawyer to help you navigate this difficult journey.
As you talk to our lawyer here at KE Law Firm, you will know your bankruptcy options. You will also learn how to stop creditors from harassing you. As our lawyers handle the legal side of it, you can focus on how to get your life back on track.
One of the questions of our clients when deciding to file for bankruptcy is if they need to file jointly. In Irvine, no law requires married couples to file for bankruptcy jointly. If you have assets that are independent of your partner that requires debt relief, then you can file individual bankruptcy.
The decision to file jointly or individually will be discussed by our attorneys. Indeed, you can file your bankruptcy alone to help you save money from attorney’s fees.
However, it is not a wise decision. Keep in mind that using the wrong form will only increase the likelihood of your case to be dismissed.
You could also be in serious trouble if you file as an individual when you should be filing jointly. The court will consider it as acting in bad faith and it will affect the outcome of your case.
When you file independently, the court will examine your household income and expenses. If your spouse is the reason your family’s financial situation is deteriorating, you will need to analyze the situation first.
Ideally, you discuss your financial situation with our bankruptcy attorney. Our lawyers will show you the right path on how to file for bankruptcy regardless of who is at fault in this situation.
You can file separately if your spouse has already filed it in the past eight years. Thus, your spouse is not allowed to file another.
Furthermore, you can file individually if you have a high amount of debt that is not considered marital debt.
There are also reasons to file jointly. For instance, if you and your partner can have a set of exemptions, then you should consider filing jointly. You should also do it if you have cosigned loans or marital debt.
Financial Freedom with the Help of Bankruptcy Attorney
Bankruptcy may be the last thing you want to do when dealing with your financial situation. However, in some cases, it is necessary to file.
But before you file, though, make sure that you talk to our bankruptcy law lawyer in Irvine to help you out. As mentioned earlier, you will face consequences when you file incorrectly. Call our lawyers today for a free consultation: (949) 565-4707 or (818) 960-6460.