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Life Changes and Bankruptcy

Posted By Majed on Nov 23, 2011 2:40pm PST

Filing bankruptcy after a divorce does not miraculously make your alimony or child support disappear. Support obligations are not dischargeable in a Chapter 7 or Chapter 13 bankruptcy. So when is the best time to file for bankruptcy? It might make your case easier to file for bankruptcy before you file for divorce.

Settling your debt prior to filing for divorce can simplify your divorce proceeding, making it easier for you and your spouse to divide debt. This could also protect you from an ex filing for bankruptcy after the divorce in an attempt to leave you with debt from the marriage.

Filing for bankruptcy before filing for divorce allows you and your soon-to-be ex a fresh start from creditors and each other. Contact bankruptcy law firm Fears | Nachawati for all of your bankruptcy needs.
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