A Bankruptcy Lawyer Can Help Married Couples Go Over Some Important Filing Considerations

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Married couples in Raleigh have two options when it comes to declaring bankruptcy. They may file individually or jointly. Individual filing is ideal if only one spouse needs to settle debt. This is also beneficial for the other partner since it won’t affect their credit whatsoever. Joint filing, on the other hand, allows married couples to complete a bankruptcy in just one convenient proceeding. That means both spouses can discharge their debt at less costs than filing separately.

Each has its own merit and accomplishes the objective of wiping out debt, but the best solution for you would depend on several factors. Your bankruptcy lawyer may urge you to consider these before making a decision.

Assets and Properties

Ownership of some assets change when you get married, according to the laws in effect in your state. Some properties can be owned equally by both spouses regardless of who is on the title, while others follow the rules of equitable distribution. Read more from this article: http://bit.ly/2HDDNmF.

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