Filing Bankruptcy Before, During, Or After Your Divorce

If you are in too much debt and you are also considering a divorce, the timing is important for both a divorce and a bankruptcy filing to occur. Depending on the type of debt you share, and how that debt will be divided in your divorce, deciding when to file can vary from couple to couple. It isn't easy to deal with a large amount of debt, and this may be causing you significant stress. As you look over your finances, take the time to specify what debt can be written off in a bankruptcy, and what debt will have to be paid back regardless.

Filing Bankruptcy Before Filing for Divorce

As a couple in financial despair looking to file for divorce, it's possible to file for bankruptcy before you file divorce papers. When you file for bankruptcy prior to your divorce, both of you will be responsible for filing all of the necessary paperwork and dealing with any secured debt that has to be paid back. If you owe back taxes, both of you will still be responsible for paying them back. Filing for bankruptcy before a divorce can make it easier to finalize your divorce because you will know exactly where you stand when it comes to your marital debt.

Filing Bankruptcy During a Divorce

Some couples choose to file for a bankruptcy during their divorce, but this is not often recommended. This can get complicated, as during a divorce you will divide up assets and debt. It can be hard to figure out who will be responsible for what debt, especially during a time when emotions are running high. Some couples choose to file for bankruptcy during their divorce because they come to the decision to file in the first place, once the divorce paperwork has already been filed.

Making the Decision to File for Bankruptcy After a Divorce

If you were left quite a bit of debt after your divorce is official and you are unable to make your minimum payments on credit cards and more, you can file for bankruptcy once your divorce is final. This can get tricky if your former spouse's name is on the debt you are trying to write off, as the creditor may go after your former spouse for the money that is owed. Even if the debt was assigned to you in a divorce, a creditor can try to get the money from anyone who signed for the debt originally. Contacting a bankruptcy attorney like those found at is the best way to file at a good time for your situation.

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