Divorce can often be a big factor when people are making the tough decision whether or not to file for bankruptcy.  Sometimes, divorce is the cause of the financial hardship leading the individual toward bankruptcy.  Other times, individuals need to know what the requirements are when it comes to divorce settlement proceedings if you already know you’re going to file for bankruptcy.  A …

Comment by Jacob Decker: Divorce certainly can complicate any …

Category: DFW Metro Bankruptcy , Divorce and Bankruptcy , Economy

Tags: Bankruptcy Divorce Law Lawyers and Law Firms Texas

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… how Sue Ferguson a public health worker survived financial crisis by filing bankruptcy after her divorce. The article talks about how filing for bankruptcy after her divorce freed her from credit card debt and medical bills ; but I wonder how her ex-husband is doing now that she’s filed bankruptcy.

A lot of couples get divorced because of money issues. Oftentimes, before a couple decides to divorce they are up to their eyeballs in debt and unpaid bills. When getting divorced, debts …

Category: Divorce and Bankruptcy

Tags: Divorce and Bankruptcy

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… Below are some real life examples of what a support obligation looks like.

A debtor filed for divorce 1 year before filing bankruptcy.  The divorce decree orders the debtor to pay his spouse $1,000 per month in alimony.  This is a domestic support obligation.

A debtor is sued by the state and ordered by the court to pay back child support.  This is also a domestic support obligation.

A debtor signs a contract with the grandparent of his/her child that says he/she will pay $500 a …

Category: Bankruptcy , Divorce and Bankruptcy , Economy

Tags: Bankruptcy Divorce support

… if you have a hefty amount of debt between the two of you.  Filing for bankruptcy before divorce can help simply the divorce proceedings by clearing out some of your debt.  This can make it easier when it comes to negotiating how the remaining debts should be divided, and also protect you should your future ex-spouse file for bankruptcy not too far down the road.  It’s also cheaper to file one joint bankruptcy than to file two separate actions.

Keep in mind that when one or …

Tags: Bankruptcy Divorce

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… for the Fort Worth Business Press describing strategies for reducing financial stress during divorce.  During the divorce, you need an attorney that specializes in family law.  He describes the forms and processes to make sure that financial obligations and benefits are correctly distributed.  He then advises, “Before finalizing your divorce settlement, consult a tax adviser to determine your tax obligation.” You want the tax adviser, because he or she will have a specialized …

Category: Credit Counseling , Debt Consolidation , Divorce and Bankruptcy

Tags: Bankruptcy Divorce Family law Personal Finance

… to get a fresh financial start. But what happens when couples are in debt and heading towards the divorce court?  Well there are a few things you need to consider before you file divorce with a boatload of debt.

1.    Debts accrued during the marriage will be the responsibility of both parties–even after divorce. If one spouse (or now ex-spouse) can’t pay, the creditors will pursue the other spouse.

2.    Quickly filing bankruptcy after your divorce and “sticking” your …

Category: Divorce and Bankruptcy

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Sometimes couples who are clearly hostile towards each and clearly want to divorce are entangled in a web of debt. Is it in the best interest of these couples to file bankruptcy before they file for divorce? Sometimes it is in the best interests of both parties to file bankruptcy before divorcing.

First of all, when couples divorce they both often experience a significant drop in their living standards because of the cost of running two households. Because of this it …

Category: Divorce and Bankruptcy

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Many married couples who file for bankruptcy together unfortunately find themselves filing for divorce before their Chapter 7 bankruptcy has been discharged. So what happens when a couple wants to part ways but their Chapter 7 bankruptcy is still under review? Well, actually a joint bankruptcy, which can only be filed by spouses is two bankruptcy filings merged into one. So, if the married couple chooses, they can separate their cases. In order to separate the joint filing a motion …

Category: Divorce and Bankruptcy

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Couples filing bankruptcy and going through a divorce need to carefully weigh their bankruptcy decisions.  Here are a few questions you should ask yourself and your potential bankruptcy attorney before you proceed:

Should we file bankruptcy together or separately?  While some divorcing couples get along fine and may be able to go through a bankruptcy together with little to no problems, others may not be so amicable.  …

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… for the debtor’s former spouse. The bankruptcy case was dismissed.

Filing bankruptcy after divorce can become very complicated. Sometimes if an ex-spouse beats you to the bankruptcy court, you could end up “holding the bag.”  If you are considering a divorce, it is important to look at all of your debt obligations.  How will these obligations be split?  Should you file bankruptcy before the divorce?  If you and your spouse have a large amount of debt, you may want to speak with …

Category: Chapter 7 Bankruptcy , Divorce and Bankruptcy

Tags: Chapter 7 Title 11 United States Code Divorce and Bankruptcy

… the property’s sale. She received a lien against the property to secure that obligation. The divorce decree placed no restraints on the cash award and made no provisions for altering it. After the debtor filed for Chapter 13 relief, his ex-wife filed a secured claim for $6,800, which was the unpaid balance of the $30,000 obligation. She asserted that her claim was for alimony. The debtor objected. The court over­ruled the objection. Although the court agreed with the debtor that the …

Category: Bankruptcy , DFW Metro Bankruptcy , Divorce and Bankruptcy

Tags: Bankruptcy Divorce Lawyers and Law Firms Legal Information

Bankruptcy and divorce can become very complicated, leaving some debtors unable to discharge certain debts if they fail to work with experienced and competent counsel. One of the reoccurring issues related to bankruptcy and divorce is the obligation of debtors to reveal their intentions to file bankruptcy to their soon-to-be ex-spouse. In the 2008 Texas bankruptcy case of Wendt, the bankruptcy court denied …

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