Bankruptcy and Divorce

Divorces are never convenient, and sometimes this inconvenience results in the end of your marriage occurring right in the middle of your financial woes. Your creditors are still going to want their money back, regardless of whether you’re newly single or not.

If you’re going through a divorce and the bills are stacking up, you’re probably doing a fair amount of worrying about your situation, and you may have a lot of questions about how your debt is going to affect your divorce, or vice versa. To learn more about divorce and bankruptcy, contact the West Palm Beach divorce lawyers of Eric N. Klein & Associates, P.A., by calling 561-353-2800.

Divorce and the Bankruptcy Process

If you and your spouse are deep in debt and decide to get a divorce, it can be a good idea to file for bankruptcy before you file for divorce. Doing so can help eliminate some of your communal debt. If you successfully apply for bankruptcy, a legal stay prevents your creditors from immediately collecting the money you owe them. It’s important to realize, though, that bankruptcy will not prevent you from being ordered to pay alimony or child support payments.

When you do file for divorce, the court will help separate the mutual bankruptcy estate and decide which property is not applicable for bankruptcy sale. The property that is not exempted will be sold to pay off the debt incurred mutually in the marriage.

Contact Us

If your debts are making it difficult to file for divorce, a divorce lawyer can help. To learn more about your options, contact the West Palm Beach divorce lawyers of Eric N. Klein & Associates, P.A., by calling 561-353-2800 today.