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.

Questions

One Response to “Laws on joint vs. separate filing”


, Barton Goth GCO Bankruptcy Trustees said:

From the sounds of things you are referring to the superintendent surplus payment guidline which stipulates how much you are able to make before the cost of bankrutpcy goes up. If you are living together this must be disclosed and regardless of whether you are filing separtely or jointly your payments would likely work out to about the same thing (assuming you have surplus, if you don’t have surplus then two separate filings will cost you more).

Although the question you asked was whether or not you had to file jointly or not, you don’t if you would prefer to file together you may but for most peopl it works out better to do it jointly.

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