Q: Bankruptcy and Divorce?
My wife and I are planning to divorce. The problem is that neither of us can afford to live alone and our debts are so intertwined between us (both names on everything) that splitting it would be impossible. We're considering a bankruptcy to simplify the process. I believe we make too much to qualify for Chapter 7, and will probably have to pursue a Chapter 13. What is the best way to navigate bankruptcy AND divorce so we don't come out of this with debt up to our eyeballs and having those linkages where the creditors can go after the ex-spouse after divorce? Also, if you file Chapter 13, are there early payment penalties?
A: Their may be an advantage to filing before a divorce, but your situation is too complicated and/or the facts too sparse for an attorney to advise you in an on-line discussion so I don't want to go into detail. You should consult with an attorney who handles bankruptcies.
Robert Keyes agrees with this answer
A: If you are wondering why lawyers here on Justia are advising you to consult with a lawyer who handles your particular issues it is because Justia is a free online legal forum established to allow members of the public to ask general legal questions to lawyers who volunteer their time, not to answer specific questions that may have very significant adverse repercussions. Any of the lawyers who respond can be contacted through this same website. Hire one.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.