The emotional turmoil a divorce inflicts can be substantial. You go from a being someone’s partner to being on your own. The same is true for all your financial obligations. Suddenly, you must pay the cable bill and the mortgage.It is a lot take on, and it can...
Divorce And Bankruptcy
WHAT HAPPENS TO CHILD SUPPORT OBLIGATIONS IN BANKRUPTCY?
If you are paying for child support and considering filing for bankruptcy you may want to know how a bankruptcy will affect your child support responsibilities. On the other hand, if you are currently receiving child support, and the parent who is paying files...
WHAT YOU NEED TO KNOW ABOUT FILING BANKRUPTCY DURING OR AFTER DIVORCE
Filing Bankruptcy During a Divorce If one party files for bankruptcy while a divorce case is pending, it can complicate matters. Your filing can cause delays in the divorce proceedings, which typically frustrates your spouse and causes emotions to run high during an...
5 BENEFITS OF FILING BANKRUPTCY WITH YOUR SPOUSE BEFORE DIVORCE
If you and your spouse can be amicable and work together on a joint bankruptcy filing, it can be beneficial for both of you. There are many benefits for a married couple who are contemplating both divorce and bankruptcy to file a joint bankruptcy prior to filing for...
5 FACTORS TO CONSIDER IN DECIDING WHETHER TO FILE BANKRUPTCY BEFORE DIVORCE
Bankruptcy and divorce are two of life's most upsetting challenges and are often intertwined. Financial stress may be a factor in the decision to get divorced. Divorce itself may cause financial stress. We are often asked by people headed for both bankruptcy and...
Do Married Couples Have to File for Bankruptcy Together?
It is a common misconception that if one spouse files for bankruptcy, the other must also file. This is not correct. One spouse is permitted to file without the other. However, in most cases the income of both spouse's incomes is counted toward eligibility for a...
On the Verge of Bankruptcy & Divorce: Filing with a Strategy in Mind
As most will attest, marriage and money can be a complex combination. When you got married, you and your spouse likely merged finances with a positive outlook, looking forward to all the benefits of a strong partnership. As the years pass though, there are inevitable...
How Bankruptcy Affects Divorce
It's common knowledge that money issues often lead to divorce, so it's not surprising that bankruptcy may be looming while couples are splitting up, whether for one spouse or both. If you and your spouse know that you both need to file, the process will be more...
Marrying into Debt
You've found the one. You've planned the wedding. You're ready to walk down that aisle, but you want to know, when your officiant asks "if you take this person to be your spouse, for richer or for poorer," what are you agreeing to? If your soon-to-be spouse is coming...
What Happens to Child Support Payments in Bankruptcy?
If you are feeling overwhelmed by the child support or alimony payments you have been ordered to pay and are considering filing a Chapter 7 or Chapter 13 bankruptcy, it is important to understand that family support payments are considered non-dischargeable debts in...