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Divorce and Bankruptcy
Guidance regarding Debt Relief is Important than ever
Many marriages get to the breaking point. Today’s economic environment may be one of the factors. Many couples live in houses which are under water and they have accumulated heavy debts to hang on to their houses. Financial stress can take a toll on marriages. We see this all the time.
Even in divorce proceedings & resulting settlement you may end up assuming substantial debts which previously belonged to marital community. On top of it, if you were to lose your job, you may have little option but to seek bankruptcy protection.
Bankruptcy court is where you may be headed due to the financial stress, which may have been the cause of your divorce as well. In such a stressful time, it is more important than ever to seek honest answers, accurate information and experienced guidance.
At Haroon Law Group in
Under the new bankruptcy laws, if one spouse were to accept responsibility for a marital debt in a divorce decree, that debt may not be dischargeable in divorce. Divorce may also affect one’s eligibility for bankruptcy under Chapter 7 or Chapter 13. To avoid a situation like this, it may be best to file for bankruptcy before divorce. That way a conflict over which party will be burdened with the marital debt can be avoided.
Bankruptcy is about starting over, just like divorce. We can help you
start over clean. Don’t be overwhelmed by debt. Contact us today for a
free consultation with an experienced
We help people throughout the entire state of