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Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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I have to file bankruptcy as my trucking company is dyeing.

Resolved Question:

I have to file bankruptcy as my trucking company is dyeing. I bought and ran it under my personal name instead of a llc or inc. My wifes not on my mortgage repay note. Can i file alone? Also my last truck i have left has a note on it, Can they take that? or is it protected since its my only source of income?
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 7 years ago.


Thank you for your question. I am happy to assist you.

A husband and wife are not required to file a bankruptcy jointly. One party can file without the other.

The effect on the non-filing spouse will be dependent upon whether there are joint debts and/or joint assets. If there are no joint debts and no joint assets, there may be little or no effect on the non-filing spouse. If there are joint debts and/or joint assets, the non-filing spouse would remain liable on the joint debt and the joint assets would need to be included in the filing.

Here are the Michigan bankruptcy exemptions (what you can keep):

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