Filing Bankruptcy in Arizona and How it Affects Your Spouse
Question: How Will Filing Bankruptcy Affect My Spouse?
Answer: Filing bankruptcy in Arizona can be filed by one or both married partners. If you are considering filing for bankruptcy in Phoenix, Tucson or anywhere in Arizona you should contact an experienced bankruptcy attorney. It is entirely legal for a person to file for bankruptcy in Arizona without his or her spouse.
When one person files for bankruptcy in Arizona, the other is not automatically pulled into bankruptcy just because they are married. On the other hand, though, filing bankruptcy in Arizona can sometimes leave the non-filing spouse unprotected as he or she may owe shared debts without the protection of a bankruptcy filing.
There are numerous ramifications to consider when deciding who should file for bankruptcy in Arizona. Contact The My AZ Lawyers, set up a free bankruptcy consultation , and find out how filing for bankruptcy will effect your spouse in Phoenix, Mesa, Glendale, and Tucson, Arizona.
Question: If one spouse decides to file for bankruptcy, does the other have to file too?
Answer: In a word…NO. An Arizona bankruptcy can be filed by one spouse and not the other. Depending on if you are filing a Chapter 13 or Chapter 7 bankruptcy, you may want to seek the advice of a Bankruptcy Attorney in Phoenix, Arizona.
Question: Will my spouse have to pay my debts if I file for bankruptcy alone?
Answer: One of the most common questions asked of our Arizona Bankruptcy Lawyers is “will my bankruptcy affect my spouse?” In most cases, the answer to the question is very simple: your debts are your debts only, and only you are responsible for them. Your Arizona bankruptcy filing, be it in Phoenix, Tucson, or wherever you reside in the state, in most cases, won’t affect your spouse. Many people have the mistaken belief that because you are married, your spouse is automatically responsible for your debts. This is just not the case.
Question: Can I file for bankruptcy without my spouse finding out?
Answer: It is legal for a person to file for bankruptcy in Arizona without their spouse knowing. If it happens that one spouse files for Chapter 7 or Chapter 13 bankruptcy in Arizona, chances are the non-filing spouse will likely be notified when debtors shared by the spouses begin to the couple them for payment. The best practice, even in the situation of a separation, is to notify your spouse in advance so that they may begin to prepare themselves financially.
Question: How is my spouse affected if I file for bankruptcy in Arizona alone?
Answer: Since a bankruptcy can be filed by one spouse without the other, this is one of the most common bankruptcy questions. There are several aspects of the answer. You should contact an affordable Arizona bankruptcy attorney and get advice before proceeding with a Chapter 7 or Chapter 13 bankruptcy filing in Phoenix, Tucson, all of Arizona.
A Chapter 7 bankruptcy or Chapter 13 bankruptcy filing by one spouse does not automatically bring the other spouse into bankruptcy. That being said, the Chapter 7 or Chapter 13 bankruptcy being filed by the one spouse does not give the non filing spouse the full protection of the automatic stay or the bankruptcy discharge.
Question: Will my bankruptcy affect my spouse’s credit rating?
Answer: If you have no joint debts, one spouse’s bankruptcy will have no effects on the other spouse’s credit rating. However, due to the bankruptcy the bankrupt spouse may not qualify as a co-signer in the future – which means that one spouse’s bankruptcy may have indirect effects on the other spouse.
Question: Do my spouse and I have separate credit ratings or are we put together because we are married?
Answer: Every person in Arizona has (or is supposed to have) a separate credit file for credit reporting purposes. Regardless where in the state you reside, be it Phoenix, Tucson, Flagstaff, your debts, if yours alone, are not supposed to show in your spouse’s credit file. Similarly, your chapter 13 or chapter 7 bankruptcy filing should not show up in your spouse’s credit bureau file. The only way that a spouse’s bankruptcy filing would show up in the other spouse’s credit report would be if the couple has joint debts. Even so, every individual considering bankruptcy in Arizona should monitor their credit file, since credit reporting, like so much else in life, does not always follow the law.
Question: My spouse and I are divorced, I am drowning in debt, is bankruptcy next?
Answer: Divorce is one of the primary causes in Arizona that drive a person to file for bankruptcy. Many recently divorced people in Arizona are on the verge of bankruptcy. If you have been recently divorced and are having trouble keeping up with your bills, you should consult an experienced Arizona bankruptcy lawyer. Don’t go bankrupt in Arizona without consulting an affordable bankruptcy lawyer.
Obtain additional Arizona bankruptcy filing information!
If you would like more information or legal advice on how your spouse would be treated if you go bankrupt, please feel free to e-mail your questions to one of our regional, Arizona based bankruptcy attorneys, they will be glad to help. Send an e-mail now. Or, you can contact one of our offices and arrange for a free consultation. (480) 833-8000 Phoenix Area Bankruptcy Lawyers or (520) 306-8729 for a Tucson Area Bankruptcy Attorneys. Get yourself a “Fresh Start” today.