Eliminating Divorce Obligations through Bankruptcy
Bankruptcy is a tool used by many to reduce debts that they cannot reduce on their own. Individuals struggling with personal debt can use Chapter 7 or Chapter 13 bankruptcy to discharge their debts. If you are considering filing for divorce, you might be worried about the costs involved with the divorce process and the debt you might face when the process is complete. Discuss your concerns with your lawyer to get a better sense of what you can expect from your specific case. Bankruptcy and the Automatic Stay When you file for bankruptcy, an automatic stay is enacted. This is a court order to your creditors to cease all collection attempts until the bankruptcy is finalized. Having an automatic stay in place to stop…
