Filing for bankruptcy during a divorce can have both positive and negative effects on your divorce case
There are a number of kinds of debt that my not go away in a bankruptcy case. So in your case what debt survives bankruptcy? It’s important to speak with an experienced bankruptcy lawyer before you file bankruptcy so you have a better understanding of the outcome of your bankruptcy.
The different stages of divorce affect some of your options within bankruptcy which you should make your attorney aware of. For example: Are you already divorced? Are you separated? Are you meeting with divorce attorney right now? These and other scenarios ultimately affect filing and whose stuff is affected.
Money problems tend to impact every area of our lives so it is not a surprise that money problems are consistently listed as a major cause of divorce. Sometimes one spouse accumulates a huge amount of debt on a credit card and the parties simply cannot come up with a way to repay it. Other times medical circumstances of one spouse or a child overwhelm a couples finances and there is simply no way to make payment on the family medical debt.
Bankruptcy and divorce – both can be sticky situations – combined them and you may have a real mess on your hands. Usually a bankruptcy takes precedence over a divorce. If you file a bankruptcy during a divorce you may delay the distribution of assets and debts until the bankruptcy case is completed. In other… Continue reading How will bankruptcy affect my pending divorce?
Whether you should file a bankruptcy before or after your divorce depends upon your debts, properties, where you are living and a web of other issues. When considering bankruptcy with divorce you will want to consider all options to know if you should get divorced first or file for file a bankruptcy first, that way… Continue reading Bankruptcy with divorce