Bankruptcy and divorce are commonly linked legal issues. A couple either ends up separating because financial trouble has strained the relationship, or the cost of divorce has left one or both parties struggling with the cost of child support, spousal support, debt division and legal fees.
These are challenging times for my clients, and that is something I consider carefully through every stage of both divorce and bankruptcy proceedings.
I offer representation to individuals and families in Oklahoma City and surrounding areas of the state. I help them determine whether bankruptcy is appropriate for their needs and how to balance their personal debt problems with those they share with a spouse.
Should I File Bankruptcy Before Or After My Divorce?
The type of debts you have and your level of income as an individual versus as a couple will determine when to file bankruptcy. The goal should always be to minimize the financial impact that these proceedings will have on you. In some cases, that means making sure that both you and your spouse are held accountable for appropriate debts. In others, it means giving either party the opportunity to avoid bankruptcy and file separately.
No two cases are exactly the same, so make sure to discuss your options with a lawyer who can address your financial problems as they relate to your family.
Discharge Of Divorce Debts
Once your divorce is final, you will begin to feel the full burden of its financial consequences. While child support or spousal support payments may be part of your hardship, they are not dischargeable through bankruptcy. Bankruptcy can still be used, however, to deal with other unsecured debts such as credit card debt or medical debt that has built up in the process.
With more than 35 years of experience, and a career history that involves arguing before the 10th Circuit Court of Appeals in bankruptcy litigation, I can give you insight and guidance through this process.
Contact my office in Oklahoma City, Oklahoma to schedule a free initial consultation with an experienced attorney.