Divorce & Bankruptcy
I came across a great article titled Bankruptcy - What You Need to Know. Divorce and bankruptcy are often intertwined, and the decision about whether one party or both parties should seek a bankruptcy before or after the divorce is a decision that should be reached with the advice of an experienced bankruptcy attorney. This article provides basic concepts of Chapter 7 or Chapter 13, which are the types of bankruptcy most often used by consumers.
For more bankruptcy and divorce reading, see the following:
Married Filing an Individual Bankruptcy: How Does this Affect my Spouse? by Attorney Christine Wilson on the Los Angeles Bankruptcy Law Monitor
Should I get a divorce before or after bankruptcy? by Attorney Bryan Fears on the Texas Bankruptcy Blog
Bankruptcy During Divorce posted on Lawyers.com
My wife (soon to be ex) are in the process of divorcing, we have a marital home together which was in the process of foreclosure, she has stalled the foreclosure by filing Chapter 13 on her own. My question is this, how can the divorce become final (final hearing is set for next Monday May 9th)when she has filed bankruptcy?
Any answer would be greatly appreciated.
Thank you,
Dan
I expect that it would be difficult to finalize the divorce when the debts are not settled through the bankruptcy. The court may craft an anticipatory order based on what the expected bankruptcy discharge might be. I would consult with a bankruptcy attorney.