Filing a Joint Bankruptcy in Queens

Are you and your spouse struggling to make ends meet because of staggering levels of debt? You both might be considering bankruptcy. If so, you may benefit from a joint filing, which could save more time and money than each of you filing separately.

At the Law Office of Seni Popat, our Queens bankruptcy attorney has represented hundreds of clients in situations just like yours. With extensive knowledge and highly effective litigation skills, Attorney Popat can help you file bankruptcy and protect the best interests of you and your spouse every step of the way. He is deeply passionate about helping individuals and families achieve new beginnings through this form of debt relief, and he looks forward to guiding you toward a better financial future.

Learn more about filing a joint bankruptcy in Queens by calling (718) 340-3385 or sending us an online message. We can answer all your questions during a free consultation.

What You Need to Know About Filing Jointly

When you file jointly with your spouse, you submit one set of bankruptcy papers. Your documents will include all financial information that pertains to either or both of you (i.e. personally or jointly owned income, assets, debt, expenses, etc.). Both separate and jointly owned assets and debt will become part of the bankruptcy.

Before deciding to file jointly, you will need to consider whether state or federal bankruptcy exemptions will cover what you and your spouse own. Fortunately, those filing in New York can double the exemption values for jointly owned property. In other words, you can protect twice as much of your property because both of you are filing.

You may benefit more from filing separately if you are filing outside of New York and do not have access to the double exemption for jointly owned property.

Benefits of Joint Bankruptcy

If you can double your exemptions, joint bankruptcy is likely the right decision for you and your spouse. However, our attorney will take the time to thoroughly assess your situation before recommending this option. You may have viable alternatives at your disposal that can accomplish the same goals without this complex court process.

If we determine that a joint bankruptcy filing is right for you, you will likely experience the following benefits:

• Cost-effectiveness (significantly less expensive than filing two separate petitions, in both filing fees and attorney’s fees)
• Efficiency (only one set of documents and, in most cases, one hearing)
• Elimination of all qualifying debts (whereas a separately filed bankruptcy will only discharge the debt for which the filer is individually liable)

Keep in mind that every case is entirely unique, which is why our attorney is more than happy to provide a comprehensive assessment of your financial and legal circumstances. Our firm will only recommend a debt-relief strategy that we feel will best relieve your financial burden and pave the way for a better future.

Ready to get started on your joint bankruptcy petition in Queens? Give us a call at (718) 340-3385 or reach out to us online for your complimentary case evaluation.