Filing bankruptcy during a divorce
On behalf of Furr & Cohen, P.A. posted in Child Support on Thursday, January 7, 2016.
The financial aspect of divorce is something that affects every person going through the end of a marriage to at least some degree. Property division, spousal support and child support may all come into play, and sometimes the aftermath of a divorce also brings about a bankruptcy. Filing for bankruptcy due to a divorce is not uncommon, but there are specific things to be aware of during this time.
With both divorce and bankruptcy, it’s important to make sure all of your decisions are well thought out. Ending a marriage and filing for bankruptcy have serious consequences in just about every aspect of your life, and neither is something to be taken lightly.
It is especially important to talk with an experienced attorney if you are thinking about filing for bankruptcy during your divorce. A bankruptcy filing can affect everything from how the property is divided to who ends up with which marital debts. When you meet with a lawyer, you also get the opportunity to discuss the specifics of your situation and ask any questions you have so that you can go into the process fully informed.
If you’re already through the process of divorce and considering filing for bankruptcy, you may have questions about which, if any, of your family law obligations may be able to be discharged in the bankruptcy. At Furr & Cohen, our attorneys work in both family and bankruptcy law, and we are well equipped to talk with you about your specific situation and lay out your options for either as you move forward.