Are you getting a divorce and need to file bankruptcy?
The Columbus, Ohio, attorneys at Jump Legal know that many people going through a divorce are under tremendous financial stress, to the point of filing for bankruptcy. The overlap between divorce and bankruptcy often creates gray areas of law that are difficult for the everyday person to understand.
There are so many factors to consider when getting a divorce: the division of assets, alimony, child support, etc. When you are also suffering financially, it adds more stress to an already stressful situation. Our divorce and bankruptcy lawyers can help you understand all aspects of bankruptcy law, including the effects of bankruptcy when one spouse files or when both file.
Should You File for Bankruptcy or Divorce First?
If you are still on good terms, you and your spouse may file for bankruptcy first to keep your debts together. This way, you may get additional exemptions which can qualify you both for Chapter 7. With Chapter 7 bankruptcy, you can eliminate your joint unsecured debt, which can lead to a more amicable divorce. Plus, your debts will be one less thing to think deal with during the divorce process.
If your joint income is too high, you may get a divorce first, so that each person’s income is treated separately and you both have a better chance of qualifying for Chapter 7.
To deliver the best advice to those going through a divorce and a bankruptcy, we work with our clients on a personalized basis. We do not believe in “one-size-fits-all” bankruptcy cases or legal advice. Generalized bankruptcy guidance is often worse than no guidance at all. Especially when homes can be lost, tax refunds squandered and precious family heirlooms liquidated.
Divorce-Related Bankruptcy Help from Attorneys Who Care
Our legal team has dealt with divorce-related bankruptcy issues frequently and we can accurately predict where your case might fall, based on our previous experience.
Jump Legal law firm goes the extra mile to get to know our clients so we can tailor our legal advice to the specific circumstances unique to their cases. This specificity often means the difference between a successful bankruptcy and a failed one.
Need Help Understanding Divorce And Bankruptcy Law?
If you need help for a divorce and bankruptcy, the Columbus, Ohio, attorneys at Jump Legal can help get rid of your debt and change your life; but you can’t change your financial future until you start the process. Contact us today to schedule a free initial consultation; you will always speak with an attorney and all communications remain confidential.