The bankruptcy code allows married debtors to file joint bankruptcies, much the same way joint tax returns are filed. Joint bankruptcies make sense if both spouses are facing significant debts, whether or not they were accumulated together or apart. However, joint bankruptcies are only available for married couples.
Joint bankruptcies provided many benefits for couples seeking bankruptcy relief. First, filing fees must only be paid once, which will save $300+. Second, there is convenience in only having to provide your attorney with one set of documents, with only one petition to fill out, which will reduce office visits and correspondence. This will also save money and time. Third, there will only be one Meeting of Creditors to attend, which will save more time. You will want to file a joint bankruptcy if at all possible.
As mentioned above, joint bankruptcies are only available for married couples. Unfortunately, engaged couples, or couples merely living in a "common law" situation cannot file. Boyfriend and girlfriend cannot file. Siblings and parent-children cannot file even if they have joint debts. Only married couples, no matter how long you have been together.
Same-sex married couples have been recognized by the bankruptcy court since 2011. This will also apply to civil unions, depending on state law. Same-sex couples will enjoy all of the benefits of a joint bankruptcy.
If you are engaged, and both you and your future spouse both share significant debts, it may make sense to get married if you have been considering it. However, even if you are not considering it, you can always file two separate, individual bankruptcies. I tell my clients that bankruptcy should not dictate important futures plans such as marriage, but it is something to consider if it is happening soon anyways.
Contact us if you wish to discuss the issues involved with filing a joint bankruptcy. I'll be happy to set up a free consultation and try to help you determine your best path going forward that will not only be effective in discharging your debt, but also in saving you time and money.