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#1 Must the Non-Filing Spouse’s Information Be Disclosed? »

#1 “Must the Non-Filing Spouse’s Information Be Disclosed?

This continues the series “I’m Filing, My Spouse Isn’t-What Happens?” The series is introduced here.
Let’s start by remembering the context of a review of a bankruptcy petition by angry creditors or the United States Trustee’s office, for example. For one thing, the Means Test might be needed to [...]

Beware of Refinancing and Bankruptcy »

Refinancing can be a fraudulent transfer in bankruptcy

I’m Filing, My Spouse Isn’t — What Happens? »

Usually, if a bankruptcy is necessary for one spouse, both spouses will file. Sometimes only one does — does it matter? What happens?This begins a 10-part series on some of the issues when only one spouse files. Issues to be covered include:

Must the non-filing spouse’s information be disclosed?
What if my spouse’s assets are separate — [...]

5 Things Your Creditors Don’t Want You To Know About Bankruptcy! »

Your creditors are hoping that the consumer never finds out about the five facts listed in the article posted on Bankruptcy Law Network. The debt collectors may lie to you about these five facts about bankruptcy, hoping that consumers remain afraid that their employers, bosses, will find out about the bankruptcy filing or that the filing of a bankruptcy will affect a marriage or spouse. Don’t be misled, read more information on Bankruptcy Law Network.

Can My Ex-Spouse Use Bankruptcy to Discharge Debts Arising from a Divorce Order? »

From time to time I receive emails from men or women who have gone through a divorce and whose ex-spouse has filed a bankruptcy.  They usually want to know if their ex-spouse’s bankruptcy can eliminate obligations set out in a divorce order.
In general, Bankruptcy Code Section 523(a)(5) and 523(a)(15) except from discharge debts arising from [...]

Budgeting Problems and Bankruptcy: Part II »

Why is it so hard living on a budget?  I believe it has something to do with the many unscheduled expenses of life. Do we carefully categorize every dollar spent?   Probably not.  As a result, we underestimate how expensive life really is.
Yesterday, I joined my wife for a quick trip to the local supermarket. We [...]

Good News for Responsible Spouses: You Aren’t Responsible for the Other Spouse’s Debts »

One of the most enduring myths about the law is that spouses are legally responsible for each other’s debts — but it simply isn’t true, not even in a community property state.  Why, then, do so many people seem to “know” this is so, when it’s just a myth?
The answer probably lies in the nature [...]

BANRUPTCY OR DIVORCE WHAT COMES FIRST »

What come first, the chicken or the egg?  The question is what comes first, Bankruptcy or Divorce.  Frankly these are two things that can go hand in hand just like frank and beans or macaroni and cheese.

Seriously divorce is one of the main reason behind a bankruptcy filing. You previously had a family living under [...]

I Need to File Because I’m Getting Married »

Bankruptcy lawyers hear from potential clients fairly regularly that they need to file quickly because they don’t want their future wife or husband to be held responsible for their debt problem.
In most cases, their fears are misplaced.  The marriage, by itself, usually will not make the new spouse responsible for your past debts.  There are [...]

Does The Stress Over Debts or Mortgage Foreclosure Lead to Suicide? »

Suicide can be a tragic byproduct of the current financial and mortgage foreclosure crisis.  We have all heard of people jumping out of buildings in last century’s Great Depression.  But how many actual suicides or attempts at suicide have occurred because of today’s situation? 
At the National Association of Consumer Bankruptcy Attorneys annual convention in Chicago, [...]