Divorce and Bankruptcy

Twice Unlucky – Divorce And Bankruptcy

Call: 888-297-6203 Whether you like it or not, divorce and bankruptcy are connected. Financial troubles can lead to bankruptcy as well as divorce. Attorneys of Dallas based bankruptcy law firm Recovery Law Group reveal that nearly 14% of Jacksonville population filed for divorce at least once while nearly 11,000 people filed for bankruptcy in a year. Considering these statistics, there are bound to be some overlaps. When you file for Chapter 7 bankruptcy, the combined income of the couple must be less than the state median income for a household of similar size. If both the partners are [...]

2019-11-29T09:58:05+00:00
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Stress Caused Due To Bankruptcy Might Result In Divorce

Call: 888-297-6203 Statistics reveal that almost 36% of bankruptcy filers have had too much stress to deal with which resulted in them filing for divorce or separation due to it. Dallas based bankruptcy law firm Recovery Law Group lawyers say that most people separate and file for divorce due to financial issues. Though the people filing for separation are 36%, people who end up divorcing is 18%, yet the number is high enough. Florida has earned a nasty reputation of being the leading cities in the U.S. with the highest divorce rate. Incidentally, Florida also has the indistinction [...]

2019-11-12T13:19:27+00:00
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Everything You Needed to Know About Bankruptcy and Divorce

There is no denying the fact that both bankruptcy and divorce are an emotionally disturbing sequence of events which can cause drastic changes in your life. If anything can be worse than these two, say Dallas based bankruptcy law firm https://bankruptcy.staging.recoverylawgroup.com/, is having to undergo both at the same time. Since both the issues are equally important, you will be needing the assistance of expert attorneys if you wish to file for both simultaneously. Though it is manageable, however, it is often suggested to avoid filing for both together. If you have any doubt regarding which should precede, [...]

2019-08-16T12:51:38+00:00
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Effect of Individual Bankruptcy Filing For Married Couples

It isn’t uncommon that an individual encounters a bankruptcy condition. But the fact that in a marriage, when one of the individuals goes bankrupt, he/ she is wary of the situation and is perplexed as to the consequences of filing bankruptcy alone. A bank attorney will help you clarify your doubts, especially around the impact of filing bankruptcy on the other partner when one spouse want to file one. The Bankruptcy estate – California Being a community property state, California’s rules cover the assets that are acquired post marriage as the properties that belong to both the partners, [...]

2019-05-16T12:10:42+00:00
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Are Bankruptcy Lawyers Adept at Handling Debt Relief during Divorce?

Divorce is a painful time. With emotions flying high, it is difficult to manage things. If coupled with bankruptcy, it can be a double whammy! Both divorce and bankruptcy involve finances and the situation might be related or independent. Sometimes, the bad financial situation can result in straining the marriage resulting in divorce, while at other times, divorce in itself might end up burning pockets. Whatever the situation, bankruptcy can be an ideal way to get rid of huge debts and begin life afresh for both parties. Are Bankruptcy and Divorce Connected? Majority of cases of divorce are [...]

2019-05-16T10:16:25+00:00
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Bankruptcy & Divorce – Not a wise idea!

It is definitely not a great feeling to go through a personal crisis of bankruptcy and divorce at the same time. There can be a tight interlink between the two, as divorce can lead to a bankruptcy situation as assets may get separated and also if you are turning bankrupt as a married couple, you are definitely turning unhappy with your partner leading to a divorce. Despite this link, it generally isn’t a great and wise idea to file for divorce and bankruptcy at the same time. Let’s learn how! As the court may request financial income information [...]

2019-05-06T10:23:00+00:00
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Implications of Filing for Divorce during Chapter 7 Bankruptcy?

Financial stress and heavy debt can cause many problems in your life, including rocking your shaky relationship. It is therefore not uncommon to find that people who are in the process of bankruptcy also have marital discord resulting in divorce. Since married couples often have their finances entangled and their financial responsibilities complicated, a sign of financial trouble may cause a rift in many marriages. No matter what the reason behind marital discord and divorce, there are some points to consider when a bankruptcy filing and divorce are taking place simultaneously. […]

2019-05-06T12:47:07+00:00
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Bankruptcy and its Impact on Divorce and Domestic Support Responsibilities

Financial troubles are more common than people would like to think. More often than not, people opt for bankruptcy which can help reduce the burden of debt on the filer’s shoulders. However, despite bankruptcy, there are certain debts which cannot be discharged. These include government taxes, student loans, and divorce and domestic support. There is contention whether a private contract made between spouses in a pro se divorce case can be considered equivalent to a non-dischargeable domestic support obligation under the U.S. Bankruptcy Code. […]

2019-05-06T13:42:04+00:00
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