If you’re married, you can file a bankruptcy petition either individually or jointly with your spouse. Filing a joint petition provides some benefits, as it results in lower bankruptcy costs, the elimination of all dischargeable debts, and an efficient filing process. Both you and your spouse need to agree that bankruptcy is in your best interests to file a joint petition, however, so it’s important that you discuss the matter together before meeting with an attorney.
Set Aside a Specific Time to Talk
Talking about your finances can be sensitive and stressful, so it’s important to be free of distractions when you discuss your options. During your talk, make sure that your cell phones are off and that you are in a quiet area. Both you and your spouse need to commit to a specific time so that you are mentally prepared to discuss your financial situation.
Avoid Placing Blame
Placing the blame on one party isn’t going to help you resolve your debt issues. In fact, it will likely make the situation worse, because it can increase tension in your relationship. Instead of placing blame, take this time to assess how you arrived at your current financial situation by analyzing your debts, monthly bills, and monthly income. Once you have this information, focus on the future and discuss how you are going to resolve your financial situation together.
Consider Your Spouse’s Feelings
If you and your spouse disagree on whether or not to file for bankruptcy, you need to listen to your spouse’s arguments without any interruption or criticism. This will help your spouse feel comfortable discussing his or her concerns with the idea of declaring bankruptcy. If you can’t agree, an experienced bankruptcy attorney can help you understand the benefits and disadvantages of a joint petition.
For more information and to get help, call Burr Law Office at (877) 891-1638. We provide affordable bankruptcy services to residents of the Milwaukee area. You can learn more by visiting our website.