
When couples fall in love and decide to get married, they often look closely at each other’s financial situations. This assessment is not only wise but necessary, as it can significantly impact their future together. Evaluating a fiancé’s income, debts, and credit score is crucial since these financial factors will affect both partners after marriage. Specifically, if one fiancé is facing significant debt and considering bankruptcy, an important question arises: Should they file for bankruptcy before or after the wedding?
When Does It Make Sense to File for Bankruptcy Before Marriage?
Filing for bankruptcy before tying the knot can be a smart decision if you find yourself overwhelmed by debt while your soon-to-be spouse maintains a sound financial position. This strategic move not only protects your partner from inheriting your financial burdens but also helps safeguard their credit score and overall financial health.
When You Are Considering Filing for Chapter 7 Bankruptcy
Another factor to consider is whether you intend to file for Chapter 7 bankruptcy, often referred to as liquidation bankruptcy. This bankruptcy option enables individuals to eliminate most of their unsecured debts, including credit card debt and medical expenses, while selling off non-exempt assets to repay creditors.
However, it is important to understand that if you marry before filing for Chapter 7, your spouse’s income will be included in the means test that assesses eligibility for this bankruptcy type. If their earnings, combined with yours, surpass the state-established income thresholds, you may lose eligibility for Chapter 7 relief, which could complicate your financial recovery.
Filing for Bankruptcy After Getting Married
When you and your spouse face significant individual debts, it may be beneficial to consider filing for joint bankruptcy. This strategy can effectively manage your separate debts and any shared obligations you may have incurred during your marriage.
Help Reduce Costs
One of the primary benefits of a joint bankruptcy filing is the potential for reduced court costs. By consolidating your financial situations into a single bankruptcy case, you can avoid the expenses associated with two separate filings, which can include multiple court fees and attorney charges.
Double Exemptions
Another reason couples may delay filing for bankruptcy until after marriage is that joint filings enable them to double their exemptions as a married couple. Bankruptcy exemptions are specific amounts of property that you can protect from being sold to pay off creditors. By filing together, you may safeguard more of your assets than you could preserve individually, making this option particularly appealing for couples with significant assets at stake.

Work with a Bankruptcy Attorney To Review Your Legal Options
If you are considering filing for bankruptcy in Georgia, it is important to evaluate your options carefully. While it is possible to file for bankruptcy individually, even if married, this choice may not be suitable for everyone. Individual filings can be beneficial in certain scenarios, especially when one spouse has significantly higher debt or faces greater financial challenges.
Ultimately, whether you choose joint or individual filing, consulting a qualified and dedicated bankruptcy attorney is crucial. These legal professionals can help you navigate the complexities of your unique financial situation and make the best decisions for your future.
Contact Duncan & Brow Today
If you are engaged and worried about your debt or your fiancé’s, it may be a good idea for both of you to meet with an experienced bankruptcy attorney to discuss it. At Duncan & Brow, our skilled Georgia bankruptcy attorneys can personally address your questions, provide you with the necessary answers, and help you figure out the best path forward.
Contact us today to learn more