Myth: If you're married, both spouses must file for bankruptcy.

     Not true. In cases where both husband and wife have substantial debt, it makes sense and saves money for them to both file...but it is never a requirement. It's not unusual for one spouse to have a considerable amount of debt in their name only. However, if spouses have debts they want to discharge that they are both liable for, they should file together. Otherwise, the creditor will simply demand payment for the entire amount from the spouse who didn't file. If you don't have any joint debt, your filing will have no impact on your spouse's credit.