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.