QUESTION
When should I file for bankruptcy if I am getting divorced?
Asked on Apr 21st, 2015 on Bankruptcy - New Jersey
More details to this question:
Can I file for bankruptcy at the same time as getting a divorce? Or should I file before or after starting the divorce process.
12 ANSWERS
I strongly recommend that clients get through the divorce first and then do the bankruptcy. But, be sure to disclose to the other side your intent to file for bankruptcy. An alternative is to file a joint bankruptcy petition with your spouse and then the two of you can get a divorce with significant debts eliminated.
Answered on Apr 23rd, 2015 at 11:56 AM
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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Each person's situation is different but commonly it's better to complete the divorce then file the bankruptcy
Answered on Apr 22nd, 2015 at 5:59 AM
Personal Injury Law Attorney serving San Diego, CA
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Law Office of Robert Burns
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I believe that I answered this yesterday.
Answered on Apr 21st, 2015 at 7:07 PM
bankruptcy Attorney serving Paul, ID
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Paul N. J. Ross Law, PLLC
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Many facts come to play in answering this question. Visit with an attorney in your state. In Idaho there are quite a few factors that can come into play and I expect it is similar in most other states.
Answered on Apr 21st, 2015 at 5:34 PM
The answer to your question depends on a lot of factors. Your best strategy may be to talk to a lawyer who does family law as well as bankruptcy, so you can consider all the relevant factors.
Answered on Apr 21st, 2015 at 5:33 PM
I would suggest filing after your divorce. Talk to a lawyer face to face about the pros and cons. Any lawyer worth his or her weight in salt will charge you for the consultation. But you want answers sooner rather then later.
Answered on Apr 21st, 2015 at 5:31 PM
There is no one size fits all rule. The decision is usually influenced by whether the joint income puts you over the median income level, how much debt each of you might have together, and whether you are still civilized in each others company.
Answered on Apr 21st, 2015 at 5:24 PM
Dispute Resolution Attorney serving Seattle, WA
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Law Offices of Helene Ellenbogen P.S.
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When to file for bankruptcy depends on the nature of the debts and whether or not both parties are willing to file together. If there are children involved in the divorce or a house, it may be useful to file for a divorce, get temporary orders re who gets to live in the house, a parenting plan and child support order and then file for bankruptcy which will stay the divorce proceedings.
Answered on Apr 21st, 2015 at 3:03 PM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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Ask your attorney, or get one. There are goods and bads either way.
Answered on Apr 21st, 2015 at 2:58 PM
Bankruptcy Attorney serving Madison, WI
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Richard B. Jacobson & Associates, LLC
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The decision is fact-driven. Your best bet is to consult a skilled lawyer who is acquainted with both areas of law. In my experience, it is generally best to start the bankruptcy first, but then file the divorce very soon thereafter. If you can get your spouse to join in the bankruptcy case, your joint filing will make the divorce much simpler, and the costs will likely be less. Good Luck.
Answered on Apr 21st, 2015 at 2:43 PM
My suggestion is that you have a consultation with a bankruptcy attorney. I don't think someone practicing Family Law can give you all you need to know about it. Good luck.
Answered on Apr 21st, 2015 at 2:43 PM
2 Awards
Whether you should file for divorce or Bankruptcy relief first ultimately depends on the specifics of your case, the nature of the debt being discharged, the assets accumulated during the marriage, etc... For that reason, it is near impossible for me to recommend either one without knowing all the facts; however, I can say that a family law court will not entertain settlement discussions in a divorce case if one or both parties have a pending Bankruptcy Petition. The family matter is typically "stayed" until the Bankruptcy discharge because Federal Bankruptcy Court takes precedence over State Superior Court. For that reason, I typically recommend that the Bankruptcy take place first so it doesn't get in the way of the divorce matter proceeding as scheduled and it also discharges debt that would otherwise have to be negotiated in the divorce matter. Regardless of whether you file Bankruptcy first or Divorce first, you are not supposed to do both at the same time. Hope that helps.
Answered on Apr 21st, 2015 at 2:05 PM