We help people across Connecticut who are considering filing for bankruptcy before, during and after divorce proceedings. We regularly serve clients who have questions about debt relief and how it impacts their divorce.
Financial problems are one of the leading causes of divorces in the U.S., and financial issues are typically one of the biggest concerns of both parties in a divorce. Court orders and divorce proceedings do not separate or eliminate obligations to pay creditors for joint debt regardless of what a divorce judge decrees. Co-signed and joint obligations can cause long-term problems and serious consequences to both parties long after the divorce is finalized.
- Are you more concerned about how you will settle or divide debt burdens than assets?
- Are you worried about protecting your assets or business in divorce or bankruptcy?
The timing of a Divorce Decree and the choices for debt relief and asset division are important considerations in nearly all divorce proceedings. Options and alternatives can be maximized by experienced attorneys working together to ensure your financial future.
FILING BEFORE DIVORCE
By filing before or during the divorce process, you can obtain immediate relief with far more options for full Chapter 7 relief at a lower cost for both parties. This can assure that neither party is straddled with large joint debts that become unpayable, subjecting both parties to suits by creditors for years after the divorce is finalized. Filing for bankruptcy before divorce allows for thorough advanced planning and assists in protecting the maximum amount of assets while providing fast and affordable relief, sometimes individually, and sometimes through joint proceedings with shared legal counsel.
FILING DURING DIVORCE
This process is quite common and the Bankruptcy Code makes special provisions to allow divorces to proceed uninterrupted by a pending bankruptcy case. Filing during a pending divorce proceeding has many of the benefits of filing before a divorce. It allows for all financial issues to be carefully examined in full and resolved before the divorce is completed. It also avoids the problems of either spouse defaulting on long-term joint debts and co-signed obligations in a manner that injures the other ex-spouse at any time in the future.
Filing before or during a divorce is usually the optimal choice of our experienced lawyers based on thousands of such cases here in Connecticut.
Debt Relief After A Divorce
Often parties don’t obtain debt relief or bankruptcy counsel until problems arise after their divorce. While this is not the optimal choice, filing after a divorce can still provide essential relief from joint debt obligations that have fallen into default after the divorce, regardless of who was held responsible for such joint obligations in the court-ordered divorce decree. A properly prepared bankruptcy filing can provide permanent relief from creditors on co-signed pre-divorce obligations, including long-term debts and defaulted mortgage payments without disturbing new current obligations and post-divorce recovery.
By strategically planning a divorce proceeding and decree, our experienced bankruptcy counsel can properly draft the Divorce Decree to provide for full Chapter 7 bankruptcy relief from all unsecured debts. With our expert assistance, divorce proceedings can be used to satisfy the new requirements of means testing for higher income filers. Family assets are protected and future income stays protected and “in the family.” This prevents excessive bills from threatening support payments and the household income necessary to properly provide for separated spouses and their children long into the future.
Altering Divorce Decrees Through Bankruptcy Law
Experienced bankruptcy counsel can craft a divorce decree to utilize the special provision of Chapter 7 and Chapter 13 to make finalized divorce decrees affordable. With our specialized knowledge, Chapter 13 can be used to protect all forms of child support and alimony.
An experienced bankruptcy attorney should always be consulted in order to structure a plan that fits your unique marital situation. Protecting assets and assuring your best interests in divorce agreements, requires our specialized and experienced bankruptcy knowledge. The results are powerful and permanent.
To evaluate your Divorce Proceeding or your Divorce Decree, call us today at 203-230-2233, or complete our online contact form to schedule a free initial consultation. When you call us, you will always speak to an attorney. We do not use voicemail. We are committed to providing excellent service, legal protection and a financial relief plan that fits your unique situation in divorce.