Full question:
My husband and I are in the process of informal separation I am living downstairs with my parents and we have separate entrances and exits.Is this possible for me to declare bankruptcy without my husbands salary? Also I will mention that we have separate accounts checking and savings and we split all the bills down evenly.
- Category: Bankruptcy
- Date:
- State: Massachusetts
Answer:
In general, both spouses do not need to file for bankruptcy if only one spouse has debts. However, the non-filing spouse remains responsible for any joint debts. If most debts are in one spouse's name, that spouse can file without the other. The benefits of bankruptcy may be lost if both spouses have significant joint debts.
The "current monthly income" for bankruptcy calculations includes average monthly income from the six months before filing, which can include contributions from a non-debtor spouse if filing jointly. However, if only one spouse files, the income and expenses of the non-filing spouse must still be disclosed. This helps the court and creditors assess the overall financial situation of the household (11 U.S.C. § 101(10A)).
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.