Divorce is a financial break up, besides being a relational break up, and it's very common for those going through divorce to fall into financial pits out of which they cannot climb. Bankruptcy is often the only real option left.
Both parties to a divorce may end up filing for bankruptcy. Don't assume you can't file bankruptcy just because your spouse already has. As soon as one or both spouses file in a divorce case, it will complicate matters greatly. But if you don't file bankruptcy and your spouse does, you could be liable in full for all debts formerly jointly held, and you may find yourself unable to pay them, which can lead to bank levies, wage garnishment, repossessions, and more.
Bankruptcy can help avert some of these consequences, if you qualify to file. It can't affect child support or eliminate alimony, but it will offer you relief from all dischargeable debts.
At San Diego Bankruptcy Attorney, we have handled numerous bankruptcy cases in the past that were deeply connected with an in-process divorce or filed in the immediate aftermath of a divorce. We understand the kinds of issues that arise when bankruptcy and divorce collide, and we will know how to protect your financial future during this very difficult time in your life.
