help with filing single when married

[gcm1970]

How do you know if you qualify for filing single or even if you SHOULD?

Im a sahm due to health reasons, but most of the debt is in my name only. Are there any sites where I can read up on this? Thanks so much for the help.

[stressin]

I filed as an individual, even though I am married. Like you, almost all of the debt was in my name (because of a business that I attempted, that failed.) We only have one joint debt, and it was a credit card. I included it in my bankruptcy, but my husband will continue to pay it, which should protect his credit rating.

My lawyer has filed my petition, and my 341 hearing is on the 25th of November.

I know that every situation is different, but if I can answer any questions that you have, I will try. In our case, the house and the cars were in my husband's name, so that helped. Although, my lawyer did list my interest in the house and one of the cards--the one that I use primarily--as part of my exemptions--I guess just to cover everything.

Mine is a chapter 7, no asset case. My exemptions covered all of my belongings--I live a comfortable life, but don't have a lot of "toys"--IE, expensive things that might not have been exempt, such as RVs, boats, etc.

I am currently unemployed after I closed my business. I am a stay at home Mom at this time, although I have worked in the past--trying to work around my kids' schedules.

Please feel free to message me if you think I can answer any questions, or if you just need support. It looks like we have a similar situation.

Also, for what it's worth, much of the information about filing as a single person or jointly is also applicable to filing as an individual who is married, so read all that you can--it helps.

[merlotwaytogo]

From what I have read...

From what I have read in the NOLO books, If most of the unsecured debt is in your name (check your credit report to make sure), you can file alone.
They will use your husbands income to calculate the means test. I don't think it will harm his credit score if you file. I would go to the library and check out the books that include the new law(post 2005). That might help. Good luck.
I am in the same boat.

[gcm1970]

would I need to pull HIS report and see whats on it? Have to pull all 3 correct?

[Bandit]

I filed as an individual, even though I am married. Like you, almost all of the debt was in my name (because of a business that I attempted, that failed.) We only have one joint debt, and it was a credit card. I included it in my bankruptcy, but my husband will continue to pay it, which should protect his credit rating.

My lawyer has filed my petition, and my 341 hearing is on the 25th of November.

I know that every situation is different, but if I can answer any questions that you have, I will try. In our case, the house and the cars were in my husband's name, so that helped. Although, my lawyer did list my interest in the house and one of the cards--the one that I use primarily--as part of my exemptions--I guess just to cover everything.

Mine is a chapter 7, no asset case. My exemptions covered all of my belongings--I live a comfortable life, but don't have a lot of "toys"--IE, expensive things that might not have been exempt, such as RVs, boats, etc.

I am currently unemployed after I closed my business. I am a stay at home Mom at this time, although I have worked in the past--trying to work around my kids' schedules.

Please feel free to message me if you think I can answer any questions, or if you just need support. It looks like we have a similar situation.

Also, for what it's worth, much of the information about filing as a single person or jointly is also applicable to filing as an individual who is married, so read all that you can--it helps.

so, did you put your income which is zero? or did you put your husbands income on your ch7? how does that play out on your tax records? do you file single or jointly?

The only reason that one debt was included is because it was a joint debt. if the house and cars had also been in your name then you would have brought all that into the case as well and or the creditors would be going after your husband. yes?

and how much income did you declare on your BK if you are a stay at home mom? just curious-

[Bandit]

and dont forget the community property states...

in some cases if the debts are joint debts, it simply does not pay to file alone because the other spouse will still be on the hook for the debt.

[gcm1970]

oh, another reason I wanted to file single is the house. We owe $28,000. of course its only valued at $58,000. What would happen in this case?

here is what it says for Ohio
Homestead
Real or personal property used as residence to $5000

Property held as tenancy by the entirety may be exempt against debts owed by only one spouse


so If we file together we only get $5000 exempt? If only I file it doesnt matter? or am I reading that wrong?

[stressin]

"so, did you put your income which is zero? or did you put your husbands income on your ch7? how does that play out on your tax records? do you file single or jointly?

The only reason that one debt was included is because it was a joint debt. if the house and cars had also been in your name then you would have brought all that into the case as well and or the creditors would be going after your husband. yes?

and how much income did you declare on your BK if you are a stay at home mom? just curious-"

Both my income, which was zero, and my husband's total income were on my chapter 7. They need the figure for the entire household income even if you file separately.

We listed one car in my exemptions--because it is the car that I primarily use. It had a value of about $3,000--but it is paid off. Even though it is not titled in my name, my lawyer listed it in my exemptions. She did this with other household items, including a tractor that she felt would be considered to be used for my benefit as well. I think she was just ensuring that things we would want to keep were exempted.

She also listed my "dower interest" in my husband's property, even though my name is not on the deed. Our home and few acres ares modest, and in a rural area, so this only came to $15,000.

Yes, the one joint debt was only listed because it has both our names on it. Anything with just my husband's name was not listed. He had tried to get my name off this credit card, but they wouldn't allow it. NOW that I have officially filed, they have basically closed that account and NOW will let my husband transfer the balance to an account in his name only. He will continue to pay it. He has an excellent credit rating and we are trying to preserve that.

Two years worth of taxes were requested. I have no idea how the bankruptcy will affect this year's taxes. The two years of tax records basically show that my business took a loss both years.

We did the schedule J using total household income. Our income after expenses was at around $200.

[Bandit]

oh, another reason I wanted to file single is the house. We owe $28,000. of course its only valued at $58,000. What would happen in this case?

here is what it says for Ohio
Homestead
Real or personal property used as residence to $5000

Property held as tenancy by the entirety may be exempt against debts owed by only one spouse


so If we file together we only get $5000 exempt? If only I file it doesnt matter? or am I reading that wrong?

Ohio just had some real big changes in the laws and are giving bigger exemptions. I 'think' that figure is much higher now and in some states you would double the amount of homestead filing together. I would double check more sites to make sure Ohio exemption amounts are the current ones.

I do not know the answer to your immediate question since you still owe half the amount.

[gcm1970]

thanks, I'll keep looking $5000 is all I've found so far

just found this, but dont understand it! LOL

The exemption for a homestead is limited to $125,000 if the property was acquired within the previous 1215 day (3.3 years). The cap is not applicable to any interest transferred from a debtor's previous principal residence (which was acquired prior to the beginning of such 1215-day period) ;
The value of the state homestead exemption is reduced by any addition to the value brought about on account of a disposition of nonexempt property made by the debtor (made with the intent to hinder, delay, or defraud creditors) during the 10 years prior to the bankruptcy filing.
An absolute $125,000 homestead cap applies if either:
the court determines that the debtor has beeen convicted of a felony demonstrating that the filing of the case was a abuse of the provision of the Bankruptcy Code; or
the debtor owes a debt arising from a violation of federal or state securities laws, fiduciary fraud, racketeering, or crimes or intentional torts that caused serious bodily injury or death in the preceeding 5 years. NOTE: This limitation is inapplicable if the homestead property is "reasonably necessary for the support of the debtor and any dependent of the debtor."