Divorce Lawyer in Weston

Dana Pechersky's Blog

  • Home
  • Home
  • Attorney
  • Family Law
  • Practice Area
  • Resources
  • FAQ
  • Contact Us
  • Location

Which Should You File For First: Bankruptcy or Divorce?

November 21, 2019 by dana 0 Comments

bankruptcy-best-option-story-570x225

If you are considering a divorce, it is common to have financial stresses as well. As you are considering whether to file for divorce, you may be curious if you need to wait until after the divorce to file bankruptcy, or if you should file bankruptcy first. The entire situation may seem overwhelming and confusing, both legally and emotionally. Understanding the options you have when it comes to bankruptcy or divorce can help ease your mind, and help you make the best decision in your situation.

 

Bankruptcy or Divorce First?

Should you file for divorce or bankruptcy first? Does it matter? Will it affect child support? Will it affect alimony?

These are all common questions and both will affect you financially and personally. A quick summary is listed below.

  • When you file for bankruptcy, it is a personal matter, even if you are married. A bankruptcy will affect your credit score and your financial situation alone. Filing for bankruptcy will not impact your spouse or your spouse’s credit history in any way. You do not need your spouse’s consent to file for bankruptcy unless you make the decision to file jointly.
  • Divorce. You may choose to file for bankruptcy after a divorce is finalized. If you make the choice to file for bankruptcy before a divorce, there may be more complicated legal issues involved, such as an “automatic stay” being placed on your finances. Additionally, filing for bankruptcy before a divorce could affect child support and alimony decisions.

While the bottom line is that you can file for bankruptcy at any time legally, there may be certain times that are more advantageous to you in your specific situation. Visiting with a family law attorney or bankruptcy attorney can help you make the best financial decision for your situation.

 

What About Filing for Bankruptcy in the Middle of a Divorce?

The other option is to file for bankruptcy in the middle of a divorce. There are circumstances where this option is necessary, and if a spouse decides to file a bankruptcy in the middle of the divorce, the court will place the divorce process on hold until they receive permission from the bankruptcy court regarding financial issues that would affect divorce decisions, such as the division of assets including stocks, bonds, or the family home.

 

Will I Have to Pay Child Support or Alimony If I File for Bankruptcy?

The short answer is yes. Any legally mandated child support or alimony will be considered non-dischargeable in bankruptcy. This means that the “debt” of child support or alimony will never go away if you declare bankruptcy after a divorce. As a parent, the court views that you are financially responsible for your child, and if you declare bankruptcy, your financial obligations to your children will remain the same. Child support and alimony are considered a priority under the law, and under Section 523(a)(5) of the Bankruptcy Code, you will be unable to remove yourself from the responsibility to pay these debts.

 

Contact an Experienced Attorney

Trying to make so many large life decisions such as divorce and bankruptcy at once can feel overwhelming. The Law Office of Dana Pechersky at 954.529.2057 can help you understand the best course of action for your situation, as we handle both bankruptcy and divorces. We can help you develop a plan for you and help you with your next steps. Contact us today for a free consultation.

Categories Divorce

dana

About dana

See all the posts by dana at this link.

Leave a Reply

Be the First to Comment!

Please insert the code above to comment
Manage Subscriptions ∨





 

Recent Posts

  • Take some Time To Think About the Custody Of Your Children And The Careful Consideration Of Leaving The Marital Home
  • Tomarnos Un Tiempo Para Pensar Sobre La Custodia De Tus Hijos Y La Cuidadosa Consideración De Abandonar La Casa Marital
  • Know Your Finances And Your Properties
  • Conoce Tus Finanzas Y Tus Propiedades
  • What you need to understand before filing for divorce? Be sure.

Recent Comments

  • Thomas on How a Broward Divorce Attorney Can Find Hidden Bitcoin Assets
  • Chris Keller on Divorce Settlement Prevents Man from Endorsing Political Candidate
  • How a Broward Divorce Attorney Can Find Hidden Bitcoin Assets on Divorce Lawyer: How to Find Hidden Assets in Your Divorce

Archives

  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • March 2020
  • February 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • October 2018
  • September 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • August 2017
  • August 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • July 2015
  • May 2015

Categories

  • Alimony
  • Divorce
  • Educational
  • Español
  • Marriage
  • Non-Citizens
  • Parenting
  • Uncategorized

Meta

  • Log in
  • Entries RSS
  • Comments RSS
  • WordPress.org

Meta

  • Log in
  • Entries RSS
  • Comments RSS
  • WordPress.org

Recent Posts

  • Take some Time To Think About the Custody Of Your Children And The Careful Consideration Of Leaving The Marital Home
  • Tomarnos Un Tiempo Para Pensar Sobre La Custodia De Tus Hijos Y La Cuidadosa Consideración De Abandonar La Casa Marital
  • Know Your Finances And Your Properties
  • Conoce Tus Finanzas Y Tus Propiedades
  • What you need to understand before filing for divorce? Be sure.

Recent Comments

  • Thomas on How a Broward Divorce Attorney Can Find Hidden Bitcoin Assets
  • Chris Keller on Divorce Settlement Prevents Man from Endorsing Political Candidate
  • How a Broward Divorce Attorney Can Find Hidden Bitcoin Assets on Divorce Lawyer: How to Find Hidden Assets in Your Divorce

Copyright © 2023 ~ Divorce Lawyer in Weston ~ The Funk
Proudly powered by WordPress