Bankruptcy after Divorce
Filing Bankruptcy in a Divorce
Financial problems can put a strain on any marriage. Furthermore, it is often difficult for either party to adjust to living on a single income after the divorce is finalized. At Vidrine Law Firm, PLC, we can help you make sense of the complex financial issues relating to bankruptcy and divorce.
Although each divorce is different, many times we recommend that a couple file bankruptcy jointly. It may streamline your divorce proceedings by reducing debt. It is also more cost effective than if couples were to file separately after a divorce.
Talking to an impartial bankruptcy lawyer at the Vidrine Law Firm, PLC, can put your mind at ease. He can help individuals and couples if they are recently divorced, just contemplating divorce, or if in the middle of the process.
If you are already divorced and owe child support or spousal maintenance, you may be wondering how to financially manage your support obligations. We can also help if you find yourself behind in support payments and want to turn the situation around.
Guidance and Discretion
If you are in need of bankruptcy legal support, a well qualified lawyer from our firm can meet with you during a confidential, first free consultation. He can answer questions about domestic support obligations, marital debts and the division of property during bankruptcy.
Our focus is to minimize strain and to come up with a bankruptcy plan that is acceptable and healthy for both spouses. For instance, we can come up with a plan to eliminate unsecured debt to make support obligations more manageable. This benefits both spouses and provides continued support to their minor children.
You will walk away with a better understanding of how property divisions are treated in bankruptcy and if it is more productive to file for bankruptcy before or after a divorce.
Here are questions that we can answer for you:
- Should I file for bankruptcy before or after the divorce?
- Is it best to file jointly or separately?
- Can spousal maintenance obligations be discharged?
- Will we lose our equity if our house is in foreclosure?
- Questions about property division during bankruptcy
Domestic Support Obligations and Bankruptcy
Domestic obligations cannot be discharged (eliminated) during a bankruptcy. Some of those obligations include alimony, child support, or money for your child’s education.
Chapter 13 Bankruptcy: Joint Filing Issues
Keep in mind that couples who are divorced are no longer eligible to file a joint Chapter 13 bankruptcy case. If you are considering filing for Chapter 13 and are soon to be divorced, please discuss this with one of our attorneys to avoid bankruptcy complications.
When domestic and financial pressures intersect, you can find guidance at Vidrine Law Firm, PLC. Call now to make arrangements to speak to a bankruptcy attorney. Your first consultation is free. Our number is 520.885.1106.
