Bankruptcy And Divorce
Money And Divorce Often Have Predictable Links
One of the main factors that leads a couple to divorce is large debt. And unfortunately, divorce can lead otherwise financially stable couples into individual, unmanageable debt.
At the Rowe Law Firm, our family lawyers have assisted divorcing couples with excessive debt problems. We understand the intricacies involved with debt relief during divorce. If you feel that you will be facing bankruptcy in divorce, our Louisiana attorneys are here to help. Contact our Baton Rouge law offices today to schedule your initial consultation.
Assessing Your Debt Relief Options
Most couples believe that bankruptcy may be their only way out from under unbearable debt during a divorce. If you find yourself thinking this, seek out skilled legal advice, as numerous circumstances ought to be weighed before pursuing bankruptcy as your debt relief solution. Such circumstances include:
- Amount of debt: Do you have an excessive amount of debt? Is it with one creditor or many?
- Type of debt: Are you struggling with credit card debt, medical bills or mortgage payments?
Depending on the answer to these questions, you may be better off pursuing debt consolidation or requesting payment modifications. If, after a thorough review, bankruptcy is the best solution for you, it is important to then consider certain factors such as:
- Timing: Should you file for bankruptcy as a couple before finalizing your divorce? Or is it better to file once all assets and debt are divided and the divorce is complete?
- Type: Is it better for you to file Chapter 7 bankruptcy (known as the liquidation chapter) or Chapter 13 bankruptcy (referred to as the wage-earner’s plan)?
As your dedicated bankruptcy and family law attorneys, we will provide you with all the information you require so you can make an educated decision about how you would like to move forward in life. We will ensure we put our cost-effective, efficient legal services to work in determining what your best option is and when to pursue it.
Contact Our Marital Debt Relief Attorneys In Baton Rouge
Divorce is challenging enough without the stress of debt. We know you are struggling and will do our best to help you in a way that gets you the fresh start you need in life. Contact our bankruptcy in divorce law firm today to learn more in your initial consultation.
Rowe Law Firm