Category archive for ‘Marriage and Bankruptcy’ 
Does the Defense of Marriage Act Prevent Gay Couples From Filing Joint Bankruptcy Petitions?
by John O'Connor on 9/02/10 | 0 Comment(s)
In cases where a married couple has incurred joint debt, a bankruptcy filing by only one spouse will not negate the obligation of the non-filing spouse to pay back the couple’s debts. Even after one spouse has declared bankruptcy, creditors can still come after the other nonbankrupt spouse for joint debts. As a result, it [...]
100% of bankruptcy debtors have relieved debt stress.
by John C. Colwell on 6/15/10 | 0 Comment(s)
The AP recently conducted a poll, and published an article regarding American’s stress and debt, and this got me to thinking about the relief of stress that accompanies a bankruptcy filing. Debt-induced stress continues for many Americans I don’t know of the methodology of the poll itself, but it seems self evident, and not much [...]
Why you need to file bankruptcy. . .
by Jay Jump on 3/04/10 | 5 Comment(s)
You can villify me later. For now, I need you to read and get some perspective. Pay attention because we’re going to move fast. You need to file for bankruptcy. Let me say it again for those of you who are still shaking your head. YOU NEED to file for bankruptcy! There, I gave you [...]
Jointly Owned Property May Be Subject To Forced Sale In Bankruptcy
by Richard Stokan on 2/15/10 | 1 Comment(s)
It is not unusual for debtors, specifically married debtors who file for bankruptcy protection separately, to co-own property. If you co-own property and intend to file for bankruptcy, you need to be aware that the trustee has the authority to force a sale of the entire asset including the co-owner(s) interest. See 11 USC 363(h). [...]
My Ex-Wife is About to File For Bankruptcy, Should I?
by Moderator on 1/12/10 | 1 Comment(s)
First of all, this a topic where a few areas of the law can intersect so it is wise to meet with an attorney to discuss your situation in greater detail. Having said that, a basic understanding of how joint debt will be affected when your ex-spouse files for bankruptcy is important. If you incurred credit card [...]
I’ve found a new job, will I still be able to file for bankruptcy?
by John O'Connor on 11/15/09 | 0 Comment(s)
I’ve found a new job, can I still file bankruptcy? If you’ve read this blog with any frequency, you’ve undoubtedly seen numerous posts about bankruptcy reform and the means test. Indeed, much has been written about the means test, the vaunted gatekeeper to chapter 7 bankruptcy protection implemented by Congress as part of BACPA in [...]
My ex-husband is considering bankruptcy, how will I be affected?
by John O'Connor on 11/12/09 | 0 Comment(s)
I recently fielded a question from a prospective client concerned about how an ex-spouses bankruptcy would affect her. While married to her ex-husband, the prospective client incurred debt in both her and her husband’s name. The ex-husband notified her that he could no longer afford to make payments on a series of personal loans and [...]
In-Kind Exemptions and the ‘Super’ Schedule C
by John O'Connor on 10/15/09 | 1 Comment(s)
Under normal circumstances, a debtor claiming and exemption is limited by the statutory dollar amount that their jurisdiction imposes on the type of asset they are seeking to protect. For instance, North Carolina law allows a married couple filing a joint case to protect up to $37,000 of equity in their home. A couple who [...]
Love and Marriage (and Bankruptcy), Part 2: Who Has to Pay for What After Divorce?
by Steve Combs on 9/28/09 | 4 Comment(s)
Section 523(a)(5) of the Bankruptcy Code provides that a domestic support obligation is exempt from Discharge. What this means is that child support, alimony, and any debt classified as a “support obligation” will typically survive bankruptcy. What is less clear, though, is what happens to property settlements in bankruptcy. It is well known that regardless [...]
Love and Marriage (and Bankruptcy), Part 1: Are Both Spouses required to file?
by Steve Combs on 9/28/09 | 1 Comment(s)
As a former state court Magistrate who presided over nearly 18,000 family hearings and the former President of the Florida Association of General Magistrates and Child Support Hearing Officers, practicing Bankruptcy law has provided me a real change of pace. I am amazed, though, when I look at the interplay between bankruptcy and family law, [...]
