A joint petition is simply a single bankruptcy petition for both an individual and their spouse. In Arizona you must be legally married at the time you file your Chapter 7 or 13 bankruptcy case. Unmarried individuals, who are simply cohabitating with each other, are NOT allowed to file joint petitions. Neither are affiliated corporations or partnerships. Furthermore, since State law controls the meaning of “spouse”, same sex couples who may have been married in a different State will not be able to file a joint petition in Arizona. Also keep in mind that married couples are NOT required to file a joint petition. It is completely up to you and your spouse whether you choose to file a joint bankruptcy petition in Arizona.
Overall the main reason for filing a joint case is to ensure that both spouses are relieved of any obligations they owe together. For example, if both husband and wife have a joint credit card in their name with $80,000 worth of debt, filing only a single petition for one spouse will NOT relieve the other spouse of their legal obligation on that credit card debt. Although each spouse is permitted to file a separate petition filing jointly can save some significant administrative costs.
How do I know whether to file a joint bankruptcy petition in Arizona? The only way a joint petition will benefit both spouses is if you and your spouse owe some sort of joint debt together. Whether you both have a joint credit card, a joint obligation on an automobile, joint obligation on a second mortgage or any other kind of joint debt, serious consideration should be given to filing a joint petition.
Filing a joint bankruptcy case in Arizona can be extremely beneficial for the financial security of a husband and wife and will allow them to get a new fresh start financially. If you are currently married and contemplating filing for bankruptcy in Tucson, Arizona it is important tocontact a Tucson bankruptcy Attorney who can help you determine if you should file single petition or a joint petition.