Charles J. Schneider, P.C.certified consumer bankruptcy specialist
forms for your office visit
call today 734-237-1523
Practice Areas Menu In This Section

Is it best to declare bankruptcy before getting married?

If you are about to marry, but you are having serious financial problems, you may be wondering what should come first, a trip to the altar or a bankruptcy filing?

You want to do what will best benefit your fiancé, and you do not want to involve him or her in your financial mess, particularly if your future spouse has a steady job and stellar credit. You can reach out for legal assistance to help in determining what path to take, but meanwhile, here are a few points to consider.

Waiting until after the wedding

Be cautious about commingling funds if you go ahead with the wedding first. Resolve to keep your bank accounts, retirement accounts, credit cards and other items related to finance separate from each other, at least for the time being. You may want to apply for a mortgage as a married couple, but it would be prudent to put the house in your spouse's name only.

Filing for bankruptcy first

If you choose to file bankruptcy before you marry, your fiancé will be able to follow the process and learn more about how you plan to handle finances in the future. In this way, the bankruptcy experience could be an important lesson for both of you, and the credit and good standing of your soon-to-be spouse will in no way be affected.

In the state of Michigan, certain assets are exempt from creditors. If you choose to file bankruptcy ahead of the wedding, you can still bring a few assets into your marriage: your six-year-old sedan, valued at under $3,250; all your retirement benefits; and even your favorite easy chair, home office furniture and other furnishings, up to a total value of $3,525. You may also achieve approval in the eyes of your intended for choosing bankruptcy first, so you can start your marriage off on firm financial footing.

No Comments

Leave a comment
Comment Information
  • rating

    Posted by MaryDecember 11, 2015

    "I am overwhelmed by your response to my call, even 10 years after my bankruptcy was discharged. You have more knowledge and expertise than I could have imagined. Because of you, my fears have been put to rest. For that, I'm so very grateful. Thank you many times over. "

  • rating

    Posted by ClientOctober 26, 2010

    "... I was extremely impressed with Charles' understanding of the bankruptcy laws to the extent that I felt certain that my best interests were always at the forefront. "

  • rating

    Posted by MarleneJanuary 8, 2014

    He helped me thru my 1st bankruptcy and now the second. I had no idea what to expect , but they kept me informed and answered all my questions. Mr. Schneider is the most experienced and knowledgeable lawyer I have ever met. If you have to file call this attorney first!

  • Avvo Rating 10.0 superb | Top Attorney Bankruptcy
  • Rated By Super Lawyers Charles J. Schneider | visit | super lawyers 2011-2015
  • Avvo Ratting 10.0 superb Top attorney chapter 7
  • Avvo clients' choice 2014 | chapter 7
  • American board of certification | certified consumer bankruptcy specialist
  • AV lexisNexis Martindale-Hubbell Peer Review Rated for ethical standards and legal ability
email us for a response

Let us evaluate your situation
and identify solutions

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy