Divorce may impose on newly-single spouses an increased debt load with only one income to pay the debt. This occurs when former spouses divide up their assets and debts. Typically a former spouse may not have sufficient income to pay his or her debts when he or she starts out on their own after a dissolved marriage.
If you file bankruptcy during or after your divorce, there are several things you need to be aware of:
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When filing bankruptcy some debts that arise out of a divorce are not dischargeable. Domestic support obligations such as spousal maintenance and child support cannot be discharged by filing bankruptcy. However, arrearages can be paid over a three to five-year period as a part of a Chapter 13 repayment plan. Unlike credit card bills or medical bills, domestic support obligations must be repaid.
- If you are going though divorce and bankruptcy at the same time or are in bankruptcy and need to file a divorce, you can't finalize your divorce without permission of the bankruptcy court. Our attorneys help you through the process of getting the bankruptcy court to allow you to finalize your divorce. Our bankruptcy attorneys will help guide you through this part of the bankruptcy process in order for you to obtain your divorce and bankruptcy discharge.
As you go through divorce as well as a Chapter 7 or Chapter 13 bankruptcy, you will be going through many tough changes in your life. Our law firm will stay with you throughout the duration of your bankruptcy to ensure that you receive a fresh financial start.
Contact Our Beaumont Chapter 7 and 13 Attorneys
Our Beaumont and Houston attorneys offer a free initial consultation to discuss your financial situation and answer your questions about bankruptcy. Call 409-291-5117 to schedule a consultation at our Beaumont office or 713-987-3910 to schedule a consultation at our Houston office.
