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Individual and Joint Chapter 7 Filing in Illinois

Michael Agruss

Written and Reviewed by Michael Agruss

  • Managing Partner and Personal Injury Lawyer at Mike Agruss Law.
  • Over 20 years of experience in Personal Injury.
  • Over 8000+ consumer rights cases settled.
  • Graduated from the University of Illinois Chicago School of Law: Juris Doctor, 2004.

A married couple is usually considered a single financial and legal unit, but when it comes to finances, debt, and bankruptcy, there are many ways in which spouses are considered financially separate. Here are some examples:- Married couples can file jointly or individually for income taxes;- An inheritance may be considered marital property or belong only to one spouse;- A spouse can start a business individually in his/her own name;- A spouse can apply for credit individually in his/her own name;- And, when it comes to bankruptcy, a spouse may file for Chapter 7 with or without the other spouse’s involvement.While you can file for bankruptcy individually without involving your spouse, a marriage will still impact the bankruptcy filing based on each spouse’s household income and expenses. If you and your spouse hold any debt jointly, only the spouse who files for bankruptcy may have it discharged, and if the other does not, he/she may still be liable for the debt. Remember thatthis can include medical expenses for either spouse under Illinois law.Whether to file individually or jointly is an important decision and depends on a number of factors. If you are struggling financially and considering filing for Chapter 7 bankruptcy, contact an experienced bankruptcy attorney today for a free consultation.

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