Divorce is hard on finances. Sometimes, marriages are full of financial issues, which is one of the reasons why many relationships come to an end. However, no matter what impact finances are leaving on your life, sometimes filing for bankruptcy if your only option. You may not know what to expect after filing for bankruptcy, especially with divorce in the mix, but today we will help you understand.
Divorce and Bankruptcy, and Getting Through the Hard Times
Bankruptcy laws have changed in the recent years. Chapter 13 bankruptcy and Chapter 7 bankruptcy now require that you complete credit counseling, which you will have to do with your spouse so that you can both sit down and attempt to wipe out the debt you have accrued from your credit card, loans, and more. You can use an attorney for both your divorce case and your bankruptcy case. With the help of an experienced attorney, the success rate for Chapter 7 claims is over 95%, and the success rate for Chapter 13 is 55%. You and your spouse are not the only ones who file for bankruptcy and had to make the serious decision that could impact your lives; no, more than 1.5 million people file for bankruptcy each year and it isn’t a time for shame. It’s a time for change.
Divorce and bankruptcy can be difficult aspects to handle simultaneously. Perhaps financial strain was one of the reasons for your divorce and you aren’t sure how to handle the feelings that travel alongside it. Divorce is something that happens to a high percentage of people in America. Around 40-50% of all first marriages and 60% of second marriages will come to an end. No matter the reason you are headed for divorce, a lawyer can give you legal advice that works for you when you want to move forward. There is a new divorce every 36 seconds in America, so you don’t have to feel as if you are alone when working through your entire divorce, from determining child custody, division of assets, and more.
Whether you are looking for an attorney that can help with your divorce, or you want to know what to expect after filing for bankruptcy, you have options. Start with us and we will help you through both.
