- 01 Dec
Bankruptcy and Divorce
When people file for bankruptcy, the reasons behind the filing are sometimes more than just money issues. A marriage that isn’t working out or a breakup caused by a tough financial situation may also be reasons. Bankruptcy cases that also involve divorce need to be closely evaluated by a bankruptcy attorney, and this usually means figuring out what steps to take first: the divorce or the bankruptcy.
You’ll likely need to speak with your attorney regarding the dissolution of the marriage. Will there be contested issues that will involve litigation? Is it going to be uncontested? If you’re certain that it will involve litigation, you’ll need to speak with an attorney that specializes in divorce, possibly before speaking with one specializing in bankruptcy.
Another item you’ll have to consider during the divorce process is the division of debts and assets. A divorce determines how assets such as any property you own will be divided. A final decree of divorce will also state the debts each spouse will be responsible for, including joint debts such as a car loan. It should be noted that if a spouse is ordered to pay a debt pursuant to a final decree of divorce, he or she will not be able to discharge the obligation in a subsequent bankruptcy filing.
This information is provided by Miami bankruptcy lawyer Alonso, Perez & Santos, LLP. Our areas of practice include bankruptcy, insurance litigation, debt harassment, credit card defense, foreclosure defense, immigration law, condominium law, business start-ups, and more. Call 305-676-7545 to speak with one of our attorneys and receive a free consultation including a Miami insurance attorney. We look forward to working with you.
This information is provided for educational or informational purposes only and should not be construed as legal advice. The information is not provided in the course of an attorney-client relationship and is not intended to substitute for legal advice.