Admin

login | register

How competitive are you at different Law Schools?

Enter your LSAT and GPA scores and find out!
GPA: out of 4.0
LSAT: out of 180

Student Resources

Personal Statement Editing
LSAT Prep
Law School Loans
Student Health Insurance
Law School Rankings
Law School Search
FREE Law School Outlines
Legal Forums arrow Legal Forums
Legal Forums
Welcome, Guest
Please Login or Register.    Lost Password?
Legal Forums Attorneys Bankruptcy Law
Re:Debt of one spouse (1 viewing) (1) Guest
Go to bottom Post Reply Favoured: 0
TOPIC: Re:Debt of one spouse
#524
Mark (User)
Senior Boarder
Posts: 67
graphgraph
User Offline
Debt of one spouse 1 Year ago Karma: 3  
Have a client that came in and she discovered that her spouse had credit card debt. This debt is substantial. Can one spouse file bankruptcy, or do both spouses need to file? Will the credit of both spouses be affected if one files?
Enter code here   
Please note, although no boardcode and smiley buttons are shown, they are still useable
 
Report to moderator   Logged Logged  
  Reply Quote
#542
Samantha (User)
Expert Boarder
Posts: 91
graphgraph
User Offline
Re:Debt of one spouse 11 Months, 4 Weeks ago Karma: 2  
Usually assets are titled jointly between both spouses. Assuming this is so, then both spouses may need to file for bankruptcy. Also, the Bankruptcy Court grants a homestead exemption per son. I believe the current exemption is about $20,200 per spouse. This exemption is used to protect the equity in their home from creditors.
Enter code here   
Please note, although no boardcode and smiley buttons are shown, they are still useable
 
Report to moderator   Logged Logged  
  Reply Quote
Go to top Post Reply
Powered by FireBoardget the latest posts directly to your desktop
 

LegalNut Resources

Attorney jobs listings and sites with attorney salary information, attorney job search functions, and salaries by law firm.

Law school rankings show how competitive your lsat scores would be at top law schools in the US.

Law school admissions advice is available both at the LSAT forum and throughout the pre-law section, including LSAT prep options, law school personal statement help, LSAT score distributions and law school bar exam pass rates.

Polls

What did you score on the LSAT (anonymous)
 
What do you expect your yearly income will be as a lawyer?
 
Copyright © 2006 - 2008 Rochester Ideas, LLC. All rights reserved. Our site is valid CSS Our site is valid XHTML 1.0 Transitional