Well, yes only one of the married partners may file for a bankruptcy, but depending on the couple’s debts, the types of debts, income and property, it may or may not be so beneficial for only one of spouses to file on their own.

When counseling any of my clients I examine and bring to their attention the specific types of debts they are seeking to reduce or eliminate. If for instance, the debts are credit cards that were acquired and charged up during the marriage, then it may be better for both spouses to file, even though the accounts may only be in one of the spouses name because in Texas, as a community property state, a discharge of the community debt by only one of the spouses could leave the other spouse, who didn’t participate in the bankruptcy filing, exposed and liable for the other 50%.

On the other hand, if it can be shown that the dischargeable debt was acquired and used only by the spouse seeking bankruptcy, it may well be best to not include the other spouse. In either situation, married and unmarried partners should seek out sound legal advice for their specific situation before diving into the bankruptcy pool.