Preventing And Resolving Debt Problems Related To Divorce
Financial troubles are one of the key reasons people cite for the breakdown of their marriages. Unfortunately, divorce does not make debt go away. Just like assets, marital debt is divided during in Florida, and in most cases, each spouse remains responsible for about half of that joint debt. At the same time, a divorce means one household becomes two, so your monthly expenses are likely to be higher.
If you are drowning in debt and considering filing for bankruptcy before, during or shortly after divorce, you should consult with a bankruptcy attorney so you do not unnecessarily harm your finances.
At Blanton Law, P.A., we can answer your questions about the impact a bankruptcy will have on your divorce and vice versa, and help you decide when a bankruptcy filing will be most effective. Call 941-584-4263 or contact us online to set up a free consultation about your options.
A Bankruptcy Lawyer Who Can Answer Your Marital Debt Division Questions
At our offices in Venice and Bradenton, we hear from people all the time who think it may be better to file for bankruptcy after they complete their divorce. In most cases, however, it is better to file for bankruptcy as a couple with your soon-to-be ex-spouse because it can save money in the long run. Other times, however, filing after the divorce is complete may be the best option. Working with your attorney, we can help you make a plan that addresses your goals and needs.
If you and your spouse are still living together, you may make too much in combined income to qualify for a Chapter 7. If you are already living separately and have your own expenses, however, you may be able to file for Chapter 7 as a couple, which will save on attorney fees for both of you.
Additionally, a judge may order you to pay off your ex-spouse’s credit card debt. Had you filed for bankruptcy before the divorce, the debt would already be gone. Child support and alimony debts are not dischargeable. It may be advantageous to get a clean slate before this is complete, so you can meet your obligations.
Contact Us Now For A Free Consultation About Divorce And Bankruptcy
Before you make any decisions about how to deal with your divorce and debt, call our offices at 941-584-4263 or fill out our online contact form to set up your free consultation with an experienced bankruptcy lawyer. Our main office is in Venice, and we have a satellite office in Bradenton for your convenience.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.