If my husband and I are seperated and I have a large amount of debt, canI file for bankruptcy for my debt?

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If my husband and I are seperated and I have a large amount of debt, canI file for bankruptcy for my debt?

And, if so, what is the easiest and cheapest way to do this?

Asked on December 20, 2011 under Bankruptcy Law, Louisiana

Answers:

Michael Duffy / Duffy Law, LLC

Answered 10 years ago | Contributor

Yes, but as you're still legally married any joint assets might be affected. For example, if you jointly own a home as husband and wife, or have a joint bank account, creditors might be able collect against them. Even transferring the asset is sometimes impossible or ineffectice in protecting it.

If you have a very simple bankruptcy with few assets or complications, there are some bankruptcy services that might be able to help you. These usually cost in the range of $300-500. If there is anything more complicated (and given that fact that you're currently still married that's a likelihood), you should consult a bankruptcy attorney. For most personal bankruptcies I handle them at a flat fee off $1000, ensuring your assets are protected as much as possible, you understand the process and are best situated to move on with your life after a "fresh start".


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