It, indeed, has been a tough few years with the economy taking longer to recover than what everyone hoped. Many average, hard-working people are at the point where they have to do something to turn their financial situation around. Being married can even make this already difficult scenario even more complex.
Will a separate bankruptcy filing affect my spouse? You may be asking yourself if you as an individual can file for bankruptcy without your spouse. The answer is yes, but community property issues and income will need to be addressed. The Carroll Law Firm can help you to know some of the impacts that your bankruptcy would have on your spouse and your debts. They can explain community debts and dischargeable debts, assist you in understanding the difference between Chapter 7 bankruptcy and Chapter 13 bankruptcy, and advise you if either one of them has an advantage for filing jointly or separately. Plus our law firm can counsel you on whether you have to provide a statement of assets and liabilities jointly, or if can you do it separately.
Should I file for bankruptcy before or after divorce? A major part of divorce is often the division of your assets and debts. In many cases a bankruptcy filed before a divorce will help save time and money through the divorce process. The Carroll Law Firm can help you understand the advantages and the disadvantages of filing for bankruptcy before a divorce is filed.
Whether to file bankruptcy is an important decision, and the law can be very complicated depending on each individual’s particular situation. The Carroll Law Firm is available to help you with your questions and guide you through your options. For this reason, you should not waste your time worrying or waiting to improve your financial situation. Call us today for a free 30 minute consultation.
