They say that some of the hardest things to go through in life include divorce and bankruptcy.
And if you’re facing both, it can feel extremely overwhelming. Many questions and concerns arise when discussing bankruptcy and divorce, especially because you have another party to think about, one that you might not be getting along with. Fortunately, you’ve come to the right place. We can help you navigate these troublesome waters and get the answers that you’ve been looking for. So, if you are in debt and are facing a divorce, what should you do?
- It is generally better to divorce before filing bankruptcy. This usually provides a smoother outcome for both parties.
- Consider filing for a chapter 13 bankruptcy. With a chapter 13 bankruptcy, debts owed to a former spouse can be discharged, but they can not be discharged with a chapter 7 bankruptcy. If these debts are not properly discharged under the appropriate bankruptcy, a former spouse could decide to sue in divorce court and force payment.
- The judgement of divorce should be scrutinized. This is where a bankruptcy attorney is very valuable. They will be able to scrutinize your divorce stipulations and help you decide which course of action is best.
- Know your options. Certain debts like child support and alimony cannot be discharged. However, getting rid of, or reducing, your other debts will make payment of those amounts much easier.
It can be tempting to run and hide when you’re facing divorce and bankruptcy. That’s why it’s important to get help. Instead of trying to understand bankruptcy on your own, visit Mapes Law Offices to get a grasp on your financial situation.
With multiple locations in Western Michigan, we offer expert advice and planning to help you out of a financial crisis and into a stable financial future. We offer free consultations to understand your situation and recommend our course of action. We understand that life tosses curve balls and we pride ourselves on helping good people go through bad times. After meeting with us, you will feel empowered and at ease knowing that you have a viable plan for financial success.
Our skill, experience and compassion has helped many people navigate through bankruptcy and divorce. We can help you too. Call us today at (616) 719-3847 or request your free consultation and take your first step toward financial freedom.