Bankruptcy and Divorce
When two married individuals are considering divorce and are also living under the strain of a significant amount of debt, they may want to consider filing for bankruptcy before taking legal action regarding their marriage. Though the thought of a bankruptcy case may seem like an unneeded additional stress when you are already dealing with the end of a marriage, it can often make the unpleasant process less unbearable for all parties involved.
If you are thinking about getting a divorce and are also facing large financial burdens, an experienced legal counselor can help you determine if filing for bankruptcy might be warranted. To discuss your case, contact the New Orleans bankruptcy attorneys of the Law Office of David D. Kervin, Jr., LLC at 504.599.5906.
How Bankruptcy Can Help
Filing for bankruptcy before beginning your divorce proceeding can help alleviate your financial problems in a number of ways:
- Simplify the entire financial side of the divorce by eliminating debt.
- Protect you from your current spouse’s future bankruptcy filings.
- Grant the possibility of a joint bankruptcy filing.
- Property acquired during the marriage can be used to pay debts.
While these are all ways that filing for bankruptcy before a divorce can help, it will be difficult to take full advantage of what bankruptcy has to offer without discussing the case in detail with a legal professional.
Contact Us
Going through a divorce is never easy, but a well-planned bankruptcy filing can help make the financial side a bit less stressful. Contact the New Orleans bankruptcy lawyers of the Law Office of David D. Kervin, Jr., LLC at 504.599.5906 for more information.