Effects Bankruptcy Can Have on a Divorce
Bankruptcy and Divorce 1. Can only one spouse file for bankruptcy? Yes, it is possible for only one household member to file for bankruptcy, keeping the other spouse out. There can be many advantages and disadvantages for only one spouse filing. Whether having only one spouse file is an advantage depends on the specific facts of your case. A person should definitely speak to an experienced bankruptcy attorney to determine if one or both spouses should file. 2. Does bankruptcy have an effect on divorce? It certainly can, particularly when one spouse attempts to avoid obligations created in a property settlement agreement by filing for bankruptcy. 3. Should a person hire a lawyer if his other ex-spouse is filing for bankruptcy? If an ex-spouse is paying child support, spousal support, or owes a property settlement, his or her former partner should contact a bankruptcy lawyer right away. This is important because domestic support obligations are not dischargeable in bankruptcy, but, with the exception of spousal and child support, it is not always clear if a debt classifies as a domestic support obligation. 4. What can a person do when his or her former spouse has filed for bankruptcy? In bankruptcy, there are deadlines during which the creditor spouse must file pleadings to protect a position in bankruptcy court. A spouse who believes that his or her former spouse will seek to discharge a spousal obligation or has fraudulently filed or filed in bad faith must protect his or …
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Categories: General Tags: Bankruptcy Attorney, child support, Household Member
How Much is Credit Card Repayment Principle Reduced Under Chapter 13 Bankruptcy Filing?
I am considering filing Chapter 13 Bankruptcy and know that I will have to pay back the creditors under the repayment plan between 3 and 5 years. I am trying to figure out how much I will be paying per month to the trustee.
I live in Florida, have 000 in unsecured credit card debt, 000 in a car loan and pay 00 a month in child support.
I make about 000 a year gross.
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