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

A joint bankruptcy filing is when two people file for bankruptcy together. An individual filing means only one person has filed. The main difference between the two is that a joint filing combines both people’s incomes and debts when considering the bankruptcy process. In Washington, for joint bankruptcy filings, the spouses must both put their signatures on all the papers and appear at the court hearing. In individual filings, only the person filing bankruptcy needs to sign and appear in court. When filing jointly, creditors cannot pursue the other spouse for the debts of the filer, even if the debt was solely incurred by one spouse. This is known as “double discharge”. With individual filings, creditors may still pursue the non-filing spouse for any debt attributed to the filing spouse. Additionally, income levels are important to consider when deciding whether to file jointly or individually. There is no income limit for joint filing; however, there is an income limit for individual filing. Therefore, if someone’s income is too high to be eligible for individual filing, they may still qualify for a joint filing. In summary, if both spouses decide to file for bankruptcy, they should consider a joint filing. This will give them the most protection and help them exclude the non-filing spouse from collection attempts. However, if only one spouse wants to file for bankruptcy, an individual filing should be considered.

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

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