Personal Bankruptcy Lawyer Farmington Utah
Ascent Law LLC (801) 676-5506 Free Consultation
Filing Bankruptcy As a Married Couple
If you and your spouse have joint debts, you can file for bankruptcy to eliminate both of them. This will make it easier for creditors to collect money owed by both spouses. However, your spouse will not benefit from the bankruptcy as much as you would. Therefore, it is a good idea to seek legal advice before filing jointly.
Benefits of filing jointly
Filing jointly with your spouse when filing for bankruptcy can help you protect each other’s assets. When you file jointly, you only have to fill out one set of bankruptcy forms and meet with the trustee. This also means you pay one lawyer and a filing fee. If you both have debts, joint bankruptcy is the best option for you. However, it may not be suitable for everyone. If your debts are too large, filing individually may be a better option.
When filing for bankruptcy, filing jointly is usually better for married couples with joint debt. However, if one spouse has more debt than the other, it is often better to file individually. If you have many assets together, filing jointly will help you protect more property than filing separately. Additionally, some states allow you to double your exemption amounts.
Whether to file jointly or individually
Choosing whether to file jointly or individually, is a very important decision to make in a bankruptcy case. Filing individually may result in the loss of more property while filing jointly will erase more debt. A bankruptcy case will affect both spouses’ credit for six to ten years. A bankruptcy lawyer can help you make an informed decision.
When deciding whether to file jointly or individually, consider whether the couple owns any property together. If each spouse is financially responsible for the home, filing separately may allow the non-filing spouse to keep the home. Filing jointly, on the other hand, means that the non-filing spouse will lose the home.
If the couple owns no property together, filing separately may be the better choice. If the couple owns a home, the filing spouse will be able to keep the home by combining both of their bankruptcy exemptions. In many cases, this can save the home and prevent foreclosure.
If you have any questions, you can get a free consultation with Ascent Law LLC:
Ascent Law LLC:
8833 South Redwood RoadSuite C
West Jordan, UT 84088
(801) 676-5506
https://g.page/ascentlaw?share
https://www.ascentlawfirm.com/bankruptcy-lawyer/
When you need a Divorce Lawyer, contact this law firm:
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States
Telephone: (801) 676-5506
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Farmington, Utah
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Farmington, Utah
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The new City Hall, built in 2010
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Location in Davis County and the state of Utah
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| Coordinates: 40°59′12″N 111°53′57″WCoordinates: 40°59′12″N 111°53′57″W | |
| Country | United States |
| State | Utah |
| County | Davis |
| Settled | 1847 |
| Incorporated | February 18, 1852 |
| Founded by | Hector Caleb Haight |
| Named for | Farming |
| Area | |
| • Total | 10.05 sq mi (26.02 km2) |
| • Land | 9.95 sq mi (25.78 km2) |
| • Water | 0.09 sq mi (0.24 km2) |
| Elevation | 4,305 ft (1,312 m) |
| Population | |
| • Total | 24,531 |
| • Density | 2,465/sq mi (951.6/km2) |
| Time zone | UTC−7 (Mountain (MST)) |
| • Summer (DST) | UTC−6 (MDT) |
| ZIP code |
84025
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| Area code(s) | 385, 801 |
| FIPS code | 49-24740[4] |
| GNIS feature ID | 1441004[2] |
| Website | www |
Farmington is a city in Davis County, Utah, United States. The population was 24,531 at the 2020 census.[3] The Lagoon Amusement Park and Station Park transit-oriented retail center (which includes a FrontRunner train station) are located in Farmington.
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What happens when you file bankruptcy as a married couple?https://t.co/XvF8ikD2cV pic.twitter.com/a0XJY3OLKl
— Jan Meriss Alfonso (@MerissJan) November 4, 2022
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