Laws on joint vs. separate filing
February 17th, 2008 by Questions
Hi, my common law spouse and I will be looking at filing for bankruptcy. We are not married and have never filed joint income tax returns. Our problems are due to consumer debt and the fact that we own a mobile home that was worth $90000, but is now unsellable as the trailer park we are in is about to be sold and no sales are going to happen now or in the future. We had about 35000 in equity in which we were going to use to pay off debts when we sold the home but now cant sell and want to walk away from everything and start fresh. Do we have to file jointly or can we file separately. The way I am reading it is is we file separately, we each get to keep 1700 a month but if we file together, we only get to keep 2200 combined. I find the rules are not clear as to the legalities on joint and separpate filings.