Bankruptcy Sometimes Leads To Divorce

If you and your spouse are considering a divorce and you also have a large amount of debt that is split between you, filing for bankruptcy may be a helpful option that could save both of you time and money. Dealing with the financial aspects of debt and divorce, while trying to resolve issues regarding custody, visitation and support, can be extraordinarily difficult and having an experienced lawyer on your side is a responsible decision. Broken money heart

Attorney Who Understands Divorce And Bankruptcy

At Joshua Z. Goldblum, Attorney at Law, I have practiced both bankruptcy and family law for more than 30 years throughout Bucks County and the Philadelphia metropolitan area as well as the surrounding counties. As a debt division lawyer, I understand the unique circumstances that each area of the law can produce. When these two areas converge, you want an attorney who is familiar with both areas to be able to provide the advice and representation that will protect your short-term needs, as well as your long-term goals.

Learn more about the type of bankruptcy that may be right for your unique situation, including the advantages and disadvantages of Chapter 7 and Chapter 13 bankruptcies. Call my law firm for a free initial consultation at 215-322-2745.

The Effect Of Bankruptcy On Divorce

You can file a bankruptcy before, during or after a divorce. While it is generally better to file a bankruptcy after a divorce is completed, this can vary depending on the circumstances of your situation. Issues including child custody, child support and the division of property and debt may be concerns that will affect your bankruptcy filing.

An important fact to understand, however, is that both parties are responsible for their individual and joint debts incurred during a time of marriage. Even if they are divided in a divorce settlement, that settlement does not bind the creditor, who is still able to collect the debt from the one who contracted with that creditor. If your ex-spouse refuses to pay for his or her share of the debt, creditors can come after you for the entirety of the payment.

Additionally, if your ex-spouse files for bankruptcy after a divorce, creditors will look only to you to satisfy the debts, which still remain in your name, even though they were discharged in a separate bankruptcy proceeding.

Free Consultation To Discuss Debt And Divorce

If you have questions about how large amounts of debt that were accrued during your marriage will affect your divorce, contact me and get honest answers and advice. I can help you sort through the complicated issues of divorce and protect your interests throughout the process.

Schedule a free initial consultation at my office in Feasterville, Pennsylvania. I will talk with you for free about your situation. Email me or call my office at 215-322-2745 to make an appointment. I work with many people in northeast Philadelphia. Call today.

My firm is a debt relief agency. I help people file for bankruptcy relief under the Bankruptcy Code.