Even if you and your spouse are angry with each other, it may be in your best interest to handle your financial issues together before seeking the divorce. Your bankruptcy can be handled as one filing, instead of two, and as such, would only be charged the fees associated with one filing.
Hold Harmless Agreements
In a divorce, couples often make "hold harmless" agreements in order to address their debts. This is a document that states which party is responsible for what debts. However, it is important to note that creditors do not have to abide by these agreements. If both parties are listed on the debt, creditors can go after either party. However, creditors would not have to come after either of you if the debts were addressed in bankruptcy first.
Covington Bankruptcy and Divorce Lawyer
Cincinnati Credit Card Debt Relief Attorney
Separately, divorce and bankruptcy are emotionally-charged issues that often need attention from an experienced lawyer. When these issues are linked, it is essential that you enlist a lawyer who has handled bankruptcy issues as they are related to a divorce. If you are going to go through a divorce and bankruptcy, serious consideration needs to be given to getting along with your future ex in order to get the financial burdens dealt with first.
At the Covington, Kentucky, law firm of Michael E. Plummer & Associates, we understand the challenges that people are facing when dealing with divorce and bankruptcy. Our attorneys and staff have helped
numerous couples throughout Kentucky and Ohio who are exploring the possibility of filing for Chapter 7 bankruptcy or Chapter 13 bankruptcy before a divorce filing or exploring the possibility of dealing with a bankruptcy after a divorce has already been filed. Contact us today to learn more about how bankruptcy can benefit you before moving forward with a divorce.
If necessary, we can put together an emergency filing on your behalf. Our phones are answered 24 hours a day, seven days a week, 365 days a year. Call today 859-581-5516 , toll free at 877-790-2233.