Whenever the decision is made for spouses to part ways, that decision naturally involves many important issues. Among those issues are financial concerns. In some cases, divorce proceedings can be even further complicated by bankruptcy. This leads to the question of whether divorce and bankruptcy should be handled simultaneously or whether one issue should be handled prior to the other issue. By consulting with a bankruptcy attorney Ogden Utah residents can determine the best choice for their specific situation.
Bankruptcy Prior to Divorce
There are several possible advantages associated with filing for bankruptcy prior to filing for divorce. Doing so presents the opportunity for spouses to file for bankruptcy jointly. Filing for bankruptcy first can help to simplify the division of property and debts later during divorce proceedings. By consulting with a bankruptcy attorney Ogden residents can decide if this is the best choice for their situation.
Divorce Prior to Bankruptcy
In some instances, it may make more sense to file for divorce prior to bankruptcy. This is most often the case when spouses are not on good terms. Filing for divorce first may also be a more suitable option in cases of chapter 7 bankruptcy in order to avoid the requirement to include your income along with that of your spouse. By waiting, you and your spouse may be able to qualify under your own income rather than your combined income, which could actually disqualify you from being able to file for chapter 7.
Everyone’s situation is different. As such, there is no definitive answers as to which option is best.
For this reason, it’s important to consult with an experienced Ogden bankruptcy lawyer. Mountain View Law Group specializes in handling family law as well as bankruptcy cases. If you are in need of an Ogden bankruptcy attorney, we can assist you in determining which option is the best choice for your situation.
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