Struggling through debt can put an incredible amount of strain on a marriage, and many couples facing serious debts find themselves contemplating a divorce. Filing for a divorce and filing for bankruptcy can be two of the biggest life decisions you'll ever have to make, and it's important to enter into the decision carefully and with both eyes open to the reality of the situation.
What Comes First?
When you're considering filing for both divorce and bankruptcy, it can be difficult to know which to file for first. You may have a lot of questions that need answering. In general, going into a divorce while carrying a lot of debt makes the divorce process even more difficult than it already is. Filing for bankruptcy before filing for divorce will put an automatic stay on your debts, meaning that your creditors will not be able to try to collect on the money you owe them. This automatic stay is a good first defense to protecting your property going into a divorce.
Tacoma Bankruptcy Attorney, Boise Bankruptcy Attorney, Bankruptcy Indiana,
Additionally, filing for bankruptcy before your divorce can protect you from the possibility of creditors trying to collect on money following a divorce. Just as your property is divided during a divorce, so are your debts. However, though you and your spouse may come to an agreement about who will take on how much of the communal debt, your creditors may try to reclaim the debt from either spouse. By clearing out the debt before the divorce goes through, you can ensure that you won't be saddled trying to pay off someone else's debts.
Some Tips
When you're going through both a divorce and a bankruptcy filing, you probably have a lot of questions you're asking yourself. These tips might help you with the process:
· Discuss your financial prospects with your spouse before initiating any marital decision. Once you've discussed it together, it can help to talk to a bankruptcy lawyer about your financial situation.
· Make sure to get a property lien if you're worried about your spouse's bad credit affecting your property after the divorce. A property lien can protect you from debt collectors coming after your former spouse's assets.
If you're going through a divorce and you have questions about your financial prospects, an experienced bankruptcy lawyer can help. Visit the website of the DeLadurantey Law Office, LLC today.
Is Bankruptcy Right For You? Talk to Bankruptcy Attorneys Free and Confidential. Licensed bankruptcy attorneys are available. Attorneys will call you to discuss your case for free. Find out if bankruptcy is right for your situation.
Rating of Medical Bankruptcy
Get Online Application at online Bankruptcy Lawyer.
0 comments:
Post a Comment