Bankruptcy Before Or After Divorce: Decisions That Affect Your Future
Very often, divorce and bankruptcy are related issues. Financial troubles during marriage can escalate already existing marital divides. Many couples nearing divorce have practical questions about the timeliness of filing bankruptcy. The law firm of Jeffrey M. Rosenblum, P.C., represents clients in bankruptcy proceedings, in conjunction with or following divorce proceedings. We can help you determine when bankruptcy filing would be most appropriate: before or after your divorce is finalized. We offer a free initial attorney consultation where we can discuss your financial situation and how you may be affected by bankruptcy individually or as a couple. We have offices in Westchester, Nassau and Suffolk County, as well as Brooklyn and London, UK.
Considering The Facts Of Your Financial Situation
Determining when it is appropriate to file bankruptcy varies depending on each couple’s financial situation. Our attorneys examine each case on its own terms to determine if bankruptcy is best before or after divorce, or not at all. Factors that may affect this decision are:
- Who owns the home
- Whether the marital home is in foreclosure
- Who is responsible for mortgage payments
- Each spouse’s financial situation
- Whether the couple has credit card debt
For clients considering divorce and struggling with debt, we recommend making economic decisions first and matrimonial decisions second. It is critical for spouses to understand their financial situations and options before making decisions that affect their families.
Bankruptcy may or may not be your best debt relief option. Discussing your financial situation with an experienced bankruptcy lawyer will allow you to make informed decisions about your future.
Free Attorney Consultation
To determine if Chapter 7 bankruptcy or Chapter 13 bankruptcy is appropriate for you before or after divorce, contact our law offices. We are a debt relief agency. The law firm of Jeffrey M. Rosenblum, P.C., helps individuals and business owners file for bankruptcy relief under the U.S. Bankruptcy Code.