Whittier Bankruptcy Lawyer
Bankruptcy and Divorce
Facing bankruptcy or divorce is very stressful. If you are in this situation, talk to us. We can help you determine if and when to file for bankruptcy.
As an experienced bankruptcy lawyer, Nicholas Gebelt understands the benefits and risks of filing bankruptcy during a divorce. He will explain your options and their potential effects on your finances.
Things to Consider Before Filing for Divorce
If you and your spouse are considering filing for bankruptcy and divorce, you may be wondering which you should do first. There can be benefits to filing bankruptcy before a divorce settlement is finalized. You may want to file while you are still married.
One step in the divorce process is the assignment of debts. If you file for bankruptcy before the divorce, there will not be any debts to assign during that part of the divorce. This could mean that both parties will enter post-divorce life debt-free.
An additional benefit to filing bankruptcy prior to divorce is that it alleviates a lot of the financial stress in your marriage. We have seen couples who file for bankruptcy and then realize they can work out their marital problems now that they are not dealing with financial problems.
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