Last year I had some financial difficulties and I couldn't pay off my debt. The uncertainty of my financial future was adding to my already stressful life. After months of worry, I finally decided to contact a bankruptcy attorney. After discussing my options with the attorney, I decided to file bankruptcy. My name is Kyle Diggler and if you're struggling with debt and considering bankruptcy, I'm here to help you. I'm not an expert, but I want to share my story and my experience of filing bankruptcy with others who are in a similar situation. As you read my blog, you'll learn all about the bankruptcy process so that you'll know what to expect. I'll also share some tips to help you start your life over financially. I hope that my blog answers all the questions you have about filing bankruptcy.
There are several advantages to Chapter 13 bankruptcy, including the ability to save secured assets and t
When you are dealing with a lot of debt, it can be hard to know where to turn. Filing for bankruptcy seem
Chapter 7 bankruptcy is something that many people consider. It can be a way to help you with your past d
Are you having problems with your finances? If so, is it because you have too much debt? When people have
Sometimes parents hesitate to file chapter 7 bankruptcy because they're afraid the court will take their
Couples who are seeking a divorce are often also experiencing financial difficulties. Chapter 7 bankruptcy can be an attractive option for those navigating the treacherous financial waters involved in the typical divorce, but you should think very hard before you file for divorce and bankruptcy at the same time. The disadvantages of doing so include:
Filing bankruptcy during a divorce as a strategy to avoid child support or temporary spousal support is not recommended - the judge will probably just order that you pay it retroactively. Keep in mind that bankruptcy in no way absolves you from certain types of debt, including child support and student loans. If bankruptcy is the best solution to you and your soon-to-be 0exs spouse's financial woes, it's best to file either before or after the divorce. Your individual circumstances will dictate which is the better option for you. Here's the pros and cons of both.
Pros of Filing for Bankruptcy Before the Divorce
Getting your financial affairs in order before filing for divorce will circumvent many unnecessary complications. For instance, if you and your spouse file joint bankruptcy, you will be able to discharge most or all of your joint debts, which will help both of you get a fresh financial start after you go your separate ways. In some states, you will be able to double your exemptions if you file for joint bankruptcy. Bankruptcy laws vary by state, so be sure to consult with an experienced local Chapter 7 bankruptcy attorney for advice on your particular options. In most states, Chapter 7 bankruptcy takes about 90 days. Other important considerations concerning filing before the divorce are:
Keep in mind, however, that both you and your spouse will be responsible for any loan payments required by the bankruptcy settlement, and that the family court judge will not be able to change this in any way, so it's important that you and your soon-to-be-ex can work fairly well together and that you agree on a solid repayment plan before you file the initial divorce papers.
Pros of Filing for Bankruptcy After the Divorce is Final
There are also several reasons why filing for bankruptcy after the divorce is final may be a better option for your particular situation. Reasons why this may be the better option include:
Discussing your concerns with a skilled bankruptcy lawyer from a site like http://www.howardgoodmanlaw.com/ prior to filing for divorce is the first step in mapping our a successful plan for your financial future.
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