How Marriage Can Make Chapter 7 Bankruptcy More Difficult
If a person is considering filing for chapter 7 bankruptcy protection prior to getting married, they may want to begin the process before they walk down the aisle. This is because the process of qualifying for Chapter 7 bankruptcy, also known as liquidation bankruptcy, can become much more difficult after a person is married and may have two incomes for their household rather than just one.
A single person thinking about their financial options before marriage may want to consult with a legal advisor about what action makes sense before or after the wedding. To learn more about how you may be able to improve your financial status before getting married, contact Florida chapter 7 bankruptcy lawyer Ryan J. Really, Attorney at Law, PLLC, at (239) 237-0675 today.
Filing before Marriage May Help
Chapter 7 bankruptcy works in such a way that it’s beneficial for a person to only have one income in a household. According to the law, the following benefits may be in place for those who wait to get married after filing for bankruptcy:
- A single income to count towards the means test
- Fewer assets for liquidation
- Keeping a loved one from sharing debt obligations
Bankruptcy can be complicated enough without involving your future spouse. Speak with an attorney today about what your best financial options are.
If you’ve been considering bankruptcy and are also preparing for your wedding, you may want to think about working through the Chapter 7 process before getting married. For more information about this legal process, contact Florida chapter 7 attorney Ryan J. Really, Attorney at Law, PLLC, by calling (239) 237-0675 today.