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Bankruptcy and Divorce: What You Need to Know

Posted on 11/30/16 8:13 AM

People file for bankruptcy for many different reasons. Those reasons are often more complex than just being unable to make ends meet.  Usually, there is another life event that is putting stress on household finances.

Many times, financial trouble and the need for bankruptcy relief are brought on by a failing marital relationship. Or, it may be the other way around – financial issues may have led to the breakdown of the relationship.

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Tags: Bankruptcy and Divorce

How Does Divorce Affect Bankruptcy?

Posted on 3/5/16 10:00 AM

Life isn’t always easy, but the hard times do help us appreciate the good times that much more. If you find yourself in a tough situation where you are contemplating both divorce and bankruptcy, knowing how they affect each other is important.

Typically, divorce takes a backseat to bankruptcy. If bankruptcy is filed during a divorce, it can potentially slow things down, specifically the distribution of assets and liabilities. A divorce court can make decisions about child support, alimony, custody and visitation, but as long as a bankruptcy court is involved, they cannot make decisions about your property.

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Tags: Bankruptcy and Divorce

Should You File for Bankruptcy Before or After a Divorce?

Posted on 7/16/13 9:38 AM

bankruptcy_and_divorce.jpgDeciding whether you should file for bankruptcy before or after a divorce depends on several things, including how much debt and assets you have, which state you live in, and which type of bankruptcy you should file. Here are some important issues you must consider before making your decision:

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Tags: Bankruptcy and Divorce

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