One of the most common reasons people contact a St. Louis Chapter 7 Bankruptcy Lawyer is because they are seeking a divorce. In order to get a new start on life after their divorce, many people seek to get rid of debt they may have accumulated during the marriage. While this understandable, it is important to understand that bankruptcy during a divorce is extremely complicated and that not all debts will be discharged in Chapter 7 bankruptcy. Therefore it is best for a couple to speak to a divorce attorney before filing bankruptcy, if possible.
St. Louis Chapter 7 Bankruptcy Lawyer on Filing Divorce First
By filing bankruptcy first before initiating a divorce, the couple can save money because it costs the same to file a joint divorce as a single divorce (or, in the case of a divorced couple, two separate bankruptcy filings). It also makes it easier for the divorce court to then divide assets. This makes it a lot cleaner than filing after a divorce is finalized. At that point, the husband may file bankruptcy to get rid of credit card debt, at which point the credit card company would come after the wife for the balance because it is a joint debt. A St. Louis Chapter 7 Bankruptcy Lawyer can help prevent this messy situation by handling debt issues before a divorce is finalized.
It is also important for a couple to understand what won’t be discharged in Chapter 7, namely:
- Child support
- Tax obligations
- Student loans
If you are planning to file Chapter 7 in order to discharge one of those obligations, it will not be possible.
If you have already filed divorce and are now seeking bankruptcy protection, contact the Westbrook Law Group. With experience handling this complicated situation, a St. Louis Chapter 7 Bankruptcy Lawyer can help give you a fresh start debt free as you move on from your marriage.