Getting Married during Bankruptcy

getting engaged

Life happens so fast, and sometimes you find yourself needing to file bankruptcy at the same time you become engaged. But, of course, the biggest question newly engaged people have when filing bankruptcy is, “Will my bankruptcy affect my future spouse?” The bankruptcy attorneys at Ursulova Law Offices understand this is both an exciting time and a stressful time, which is why we want to be your Brooklyn bankruptcy law firm to help you through the process. 

Getting Married During Bankruptcy

Essentially, if you file for individual bankruptcy before getting married, it should not affect your new spouse. However, if filing for Chapter 7 bankruptcy, it can be helpful to wait until it has been discharged before saying “I do.” However, if you already have joint debts with your soon-to-be spouse or co-signed a loan for you, your bankruptcy can impact them. Therefore, when considering bankruptcy before getting married, it is best to consult a bankruptcy attorney in Brooklyn NY, to learn more about the process and how it can impact your future spouse. 

Best Bankruptcy Plan to Take

Filing Chapter 7 bankruptcy is the best option when considering getting married soon. This bankruptcy is quick, and when discharged, your debts are wiped away. However, it is recommended you wait until the bankruptcy is discharged before getting married. Chapter 13 is a good option but is more of a debt reorganization, which you will be paying on for three to five years after filing. In addition, filing Chapter 13 may impact your new spouse because it is a debt you must continue paying on. 

At Ursulova Law Offices, a Brooklyn bankruptcy lawyer, we understand the concern when filing bankruptcy and getting married. We are here to be your Brooklyn bankruptcy attorney and help you determine the best bankruptcy plan to take before getting married. 

How Bankruptcy Can Affect a New Spouse

Many of our clients ask, “Does my bankruptcy affect my new spouse?” and “Do they have to pay for debts?”

Debts incurred when married in community property states are considered a debt incurred by both spouses. Therefore, even if only one spouse signed for the loan, both parties are responsible for the debt. However, if you acquire a debt when you are single and then get married, your new spouse is not responsible for that debt. So, essentially, filing for bankruptcy before you get married should not affect your new spouse. 

Should I Wait to File Bankruptcy? 

Whether filing bankruptcy or getting married first is an individual decision based on your and your future spouse’s financial situation. For example, if you both have serious debt, waiting until after you are married means you can apply together for bankruptcy. This is because it costs significantly less to file jointly than filing separately before getting married. However, filing before getting married means you can wipe your debt out, and your new spouse will not have to be included in your bankruptcy. 

As mentioned, this decision is one based on your financial situation and should be discussed with your bankruptcy attorney Brooklyn. 

How Your Attorney Can Help Create a Custom Plan

Your bankruptcy attorney can help you create a custom bankruptcy plan to fit your financial situation. The attorney is trained and experienced in bankruptcy laws and knows precisely how to proceed with your bankruptcy filing. Your attorney will help collect documentation, pull credit scores, submit bankruptcy documents, mail documents to the trustee, and join you at your 341 meetings. 

The bankruptcy attorney can advise you on what forms need filling out and what paperwork you need to submit and help fill out the paperwork before filing. In addition, having a bankruptcy lawyer Brooklyn helps reduce the risk of having errors in your bankruptcy paperwork, which can delay your bankruptcy status and discharge. 

Call for Help From a Brooklyn Bankruptcy Attorney

The Ursulova Law Offices are ready to help you file for your bankruptcy. Call us today to schedule your free consultation at (718) 336-7000.  

Ursulova Law offices, P.C.

Contact Ursulova Law Offices, P.C. to find out how our NY Bankruptcy Attorneys can help you today. Our offices are located in New York, Brighton Beach, Brooklyn and Garden City.