How does a bankruptcy affect divorce? 5 Answers as of November 02, 2010

I am currently in the process of getting divorced, and I think I am going to have to file for bankruptcy before the divorce goes through. Will this affect my divorce? Should I try to hold out until the divorce is over? I am afraid I will not get my fair share of our property because of my financial situation.

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Goldberg Jones
Goldberg Jones | Zephyr Hill
I am sorry but there is not an easy answer to your question. Some prefer to do the bankruptcy before the divorce and other prefer to do it after the
divorce.

The effect on the divorce is that some debts may go away and not need to be considered in the division of all the assets and debts.
Answer Applies to: California
Replied: 11/2/2010
Ariano & Reppucci
Ariano & Reppucci | Chris Ariano
If you file for bankruptcy while in the process of getting divorced the family court will usually put a stay on the division of assets until your bankruptcy has been completed.
Answer Applies to: Arizona
Replied: 11/2/2010
Beaulier Law Office
Beaulier Law Office | Maury Beaulier
Your question is a difficult to answer without reviewing the complete factual circumstances surrounding both the bankruptcy and the divorce. Freeing yourself of debt could potentially expose you to claims of spousal support in some circumstances. For a consultation call the listed number or visit our website.
Answer Applies to: Minnesota
Replied: 11/1/2010
The Shakoori Law Group
The Shakoori Law Group | Rachelle Shakoori
There are many factors to consider when filing divorce and wanting to file bankruptcy. You should definitely consult an attorney in order to make the right decision.
Answer Applies to: California
Replied: 11/1/2010
Diefer Law Group, P.C.
Diefer Law Group, P.C. | Abel Fernandez
Yes, the bankruptcy can affect your divorce and division of assets. You need to speak with a bankruptcy attorney.
Answer Applies to: California
Replied: 11/1/2010
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