What is the difference between a joint bankruptcy filing and an individual filing?

A joint bankruptcy filing is when two people (such as a married couple) file for bankruptcy together. Both debtors list all their debts, assets, and income on the same bankruptcy petition. The debts of each of the debtors will be discharged in the joint filing, and only one filing fee is required. An individual bankruptcy filing is when only one person files for bankruptcy. This debtor lists all their debts, assets, and income on their separate bankruptcy petition. The debts of only the individual filing debtor will be discharged in the individual filing, and a separate filing fee is required for each individual filing. Both types of bankruptcy filings can be filed under either Chapter 7 bankruptcy or Chapter 13 bankruptcy. Chapter 7 is the most common type of bankruptcy in which the debtor can discharge all their debts in exchange for surrendering most of their assets. Chapter 13 is a repayment plan in which the debtors pay back some or all of their debt over the course of three to five years. In Maryland, the bankruptcy court fee for a joint filing is $338 and the court fee for an individual filing is $335.

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What is the difference between a joint bankruptcy filing and an individual filing?

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