If I File a Chapter 13, does My Spouse have to File as Well?

Any time an individual comes to us regarding Florida Bankruptcy or Florida foreclosure there are always numerous questions that we answer in the initial interview. Most individuals are not aware of the federal bankruptcy laws where these issues are concerned. One of the more commonly asked questions we answer is “does my spouse have to file bankruptcy if I do?” The answer is “no” because a spouse can file a Chapter 13 on an individual basis if they so desire.

However, you want to be aware of the fact that even if they do not file, their income is going to be taken into consideration for the purposes of ascertaining the ability to repay your creditors in your Chapter 13 Florida bankruptcy case. As mid-Florida’s largest bankruptcy filer, Clark & Washington will still need for you to provide their income statement (if they own their own business) or their paycheck stubs if they are employed. Even if they are not filing a Chapter 13, you will still need to provide this information.

Any monthly expenses that are solely those of your spouse will not count toward household expenses and can be removed in order to calculate household expenses. Your Clark & Washington Florida bankruptcy attorney can guide you through this stage of the process. Additionally, when your attorney and you sit down to create the monthly budget plan that needs to be included in your Chapter 13 filing, your spouse’s income must be included. However, that budget may contain your monthly expenditures which are solely theirs.

Another benefit of hiring the services of an experienced Clark & Washington Chapter 13 attorney is that they can evaluate how your filing will be affected by filing individually or jointly. One question that we will ask immediately is whether your spouse has co-signed with you on any of your accounts. Remember that if they have co-signed with you on any account, they too will be held responsible for a 100% payment of any debt even if 5 to 10 cents on the dollar was the negotiated repayment.

If this is the case, a joint filing may be the way to go rather than an individual one. One way or the other, Clark & Washington is here to assist you in anyway possible and answer your questions. Please feel free to call us at (407) 898-0299 or fill out the confidential contact form found on this website.