Drowning In Your Spouses Debt And Want Out? Bankruptcy Before Divorce Is Best

If you have a lot of financial struggles because of debt that was mostly created by your spouse, and the two of you want to get divorced, you may want to file for bankruptcy first. There are many advantages to talking with a bankruptcy lawyer, before you go down and file the divorce paperwork.

You Could Split the Debt

The debt that your spouse brought into your marriage and the debt that was accumulated during the marriage are going to be the responsibility of both parties. You could end up having to pay of the credit card bills from shopping sprees or cash advances, or for items that you didn't even purchase if the judge decides you should.

Having the debt settled and cleared before you get divorced will help prevent you from getting stuck paying thousands of dollars that you didn't even accumulate after your marriage is over.

Divorce is Can Lead to Bankruptcy

Divorce can be costly. And the longer it takes, the more expensive it's going to be. The average cost of a lawyer is hundreds of dollars and hour, and you may accumulate even more debt that your marriage already had going through the divorce. Filing in advance can prevent you from having to file on your own after the divorce, or struggling to pay the debt you had to take from the marriage, on top of your court costs and legal fees.

Leave the Past Behind You

Paying monthly bills from your marriage is a constant reminder of your divorce. If you have children and you will already have to pay child support, or if you have to pay alimony, you may get bitter that you also have to pay for debt on top of it. Settling everything and taking care of the financial problems you have before you file for divorce is a great way to leave the past behind you when the divorce is finalized.

Talk with a bankruptcy lawyer and a divorce lawyer to make sure that you are ready to file for bankruptcy as a married couple. If the two of you can work through the bankruptcy civilly, then you may be able to settle the divorce out of court through mediation with your attorney. This is going to save you a lot of money, it's going to make the divorce a lot faster, and it can save the peace between the two of you.

To learn more, contact a company like Anthony Inserra Attorney at Law with any questions or concerns you have.

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Fascinating Legal Problems

There’s a reason why there are so many legal procedural shows on television these days. The law can be an intriguing thing. Going to court isn’t usually something that you look forward to, but having the court system available is definitely a positive thing. You never know when you may need to use it for one reason or another. I’ve found, as a legal professor, that taking a look at interesting cases in different areas of the law is the best way to help my students understand their subject. I’m hoping this blog will give you an idea of how the court system can work for you by giving you at glimpse at some fascinating cases and the laws behind them.