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Levitt & Slafkes, P.C. - Essex County Bankruptcy Attorneys

Get The Fresh Start You Deserve

Levitt & Slafkes, P.C. - Essex County Bankruptcy Attorneys
GET THE FRESH START YOU DESERVE

Bankruptcy &
Debt Relief For
Individuals and
Businesses

Chapters 7, 11
and 13

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Foreclosure
Defense &
Mortgage
Litigation

Saving Homes
Fighting Banks

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Loan
Modifications

Preventing
Foreclosure

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Commercial and 
Bankruptcy
Litigation

State Federal &
Bankruptcy Court

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Bankruptcy & Debt Relief For
Individuals and Businesses

Chapters 7, 11 and 13

Find Out
More

Foreclosure Defense &
Mortgage Litigation

Saving Homes Fighting Banks

Find Out
More

Loan Modifications

Preventing Foreclosure

Find Out
More

Commercial and Bankruptcy
Litigation

State Federal &
Bankruptcy Court

Find Out
More

Divorce & Bankruptcy: What You Need to Know

| Oct 22, 2013 | Divorce And Bankruptcy |

Money troubles impact every area of your life. When you are struggling financially, it can be a main contributor to your divorce. In many cases, a divorce caused by money struggles leads to one of the spouse’s filing for bankruptcy protection. If you believe that both divorce and bankruptcy are in your future, it is important to confer with a skilled bankruptcy lawyer to discuss your legal options. For many couples, it may be beneficial to consider filing a joint bankruptcy case prior to filing for divorce. If you file your divorce and then one spouse files a Chapter 7 or Chapter 13, it can result in your divorce proceeding taking longer. Additionally, when one spouse files a bankruptcy, the creditors begin collection efforts against the non-filing spouse on all joint debts.  Thus, filing a case together before your divorce proceeding can help you both obtain a fresh start financially. One concern for divorcing couples is the issue of child support. It is important to understand that filing a bankruptcy after your divorce has been finalized does not allow a parent to discharge his or her support obligations. In other words, child support payments cannot be eliminated in bankruptcy. Whatever your situation, the knowledgeable lawyers at Levitt & Slafkes can give you the advice and guidance you need. We can discuss whether you and your spouse should work together to complete a bankruptcy filing prior to your divorce and how it can benefit you. If you would like to discuss the most beneficial timing for your divorce and bankruptcy, now is the time to schedule a free initial consultation with a New Jersey debt relief lawyer at Levitt & Slafkes, P.C. Contact our attorneys online by filling out the form or by calling 973-323-2953 to schedule a free initial consultation.

 

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