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Ellen
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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In Pennsylvania can I declare bankruptcy for all debts in my

Customer Question

In Pennsylvania can I declare bankruptcy for all debts in my name only without my husband getting involved. These debts are in my name only.
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 7 years ago.

Hello,


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.


I hope that the information which I provided was helpful to you.


Best wishes for a successful outcome. If you have additional questions, please do not hesitate to submit them to me directly.


Ellen and other Bankruptcy Law Specialists are ready to help you
Customer: replied 7 years ago.
We do have 2 credit cards in both names, and I was thinking of not including these. Also our home is in
both names but isnt there a type of bankrupty that would allow us to keep our house and make some
arrangements to try and pay off some of the depts. Both our cars are in my husbands name. These
debts are mine only. Also, does this Apply to PA
Expert:  Ellen replied 7 years ago.

Hello,


This does apply to PA law.

 

As an individual, there are two types of bankruptcy available. A Chapter 7 and a Chapter 13. There are distinct differences in between a Chapter 7 and a Chapter 13 bankruptcy.

 

A Chapter 7 bankruptcy could discharge (erase) all of your unsecured debt such as credit cards, judgments and personal loans. It would be an opportunity for a fresh financial start. However, you may have to surrender assets, if any, that exceed your exemption.

 

A Chapter 13 bankruptcy is a repayment plan for an individual. It may require that you repay some of your unsecured credit card debt over a 3 -5 year period. However, you may retain assets that exceed your exemption.


Here are the exemptions for Pennsylvania:
http://www.bankruptcyinformation.com/PA_exemp.htm

 

Best wishes for a successful outcome. If you have additional questions, please do not hesitate to submit them to me directly.


Thank you,
FLAandNYLAWYER