Debt often leads to divorce – and divorce often leads to debt. If you are getting a divorce and going through financial problems, can bankruptcy be a part of the solution?
You can file bankruptcy separately or jointly when getting a divorce, but you cannot make claims against each other if acting jointly.
- To file jointly, both parties must be willing to cooperate.
- Cooperation is not necessary when one or both file separately.
- Filing bankruptcy will not change the obligations in your property settlement agreement.
- Spousal maintenance (alimony) usually cannot be discharged in a bankruptcy. It remains as an obligation.
- Child support cannot be discharged in a bankruptcy. It remains as an obligation.
Bankruptcy can help you face life after divorce with a fresh financial start. Unsecured credit can be discharged, including credit card debt. In many cases, bankruptcy can actually facilitate the divorce by removing much of the financial burden.
Talk to a bankruptcy lawyer about divorce and debt relief.
If you are dealing with a divorce as well as serious debt problems, you have our sympathy. Before the situation gets worse, consult a bankruptcy attorney about possible solutions. Contact us for a free consultation with bankruptcy attorney Brian Blum.
