12 Aug BANRUPTCY OR DIVORCE WHAT COMES FIRST
I am often asked should I get divorced first or should I file bankruptcy first. I suggest that the individual needs to look at the whole financial picture. It would be best if the bankruptcy and divorce lawyers worked together. Of course that often frightens people because now we have four lawyers.
If the situation is approached in the right manner many dollars and headaches can be saved in the future. Many times couples end up returning time and time again to the divorce court to battle issues that could and should have been resolved in advance. Many of these issues with proper planning could have been resolved upfront with the proper knowledge. Many unresolved issues wind up in litigation in the bankruptcy court. Often times a bankruptcy could have eliminated the fights and the discussion over who pays the bills in the first place, if considered early enough. Without not worrying about who pays for what, can also leave more income for each of the parties to provide for the new households.
When facing this situation it is best to make a chicken omelet which means you should probably consult both a bankruptcy lawyer and a divorce lawyer.
Bankruptcy Law Network (BLN)
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