FLINT BANKRUPTCY CHAPTER 13, FLINT BANKRUTPCY CHAPTER 7 AND FLINT DIVORCE


EFFECTS OF FLINT BANKRUPTCY AND FLINT DIVORCE WHEN COMBINED

We know that you cannot be compelled to stay married. Even a Federal Bankruptcy Judge cannot order you to stay married in Bankruptcy. I often say on air and in this column that you should move slowly with this decision. Involve family , Clergy, and consider counseling before you decide to divorce. Part of our practice is Family Law, call for additional information 810-235-1970. Flint Divorce Lawyer Terry Bankert 810-235-1970

Posted here by Flint Bankruptcy attorney Terry R. Bankert 810-235-1970.

What then are the impacts of a Flint Divorce on your Chapter 7 Bankruptcy.

CHAPTER 7 BANKRUPTCY

After you have submitted your documents to the court in a Chapter 7 Bankruptcy what is the impact of deciding to file for divorce after the filing but before the meeting with the trustee and discharge? Your bankruptcy case will probably end long before your divorce case is ended. Divorce without children has a mandatory 60 day waiting period while a divorce with children has a 180 day waiting period.

There is a strong argument that you should consider that it makes sense to wait until your divorce is completed before filing for your Flint Bankruptcy. Your property ownership and personal debt will become much clearer after your divorce becomes final and your remaining marital debt and property have been divided between the two of you.

If you assume responsibility for debts in your divorce you will be responsible for those debts after your bankruptcy when your creditor goes after your ex spouse. Here is an example. If you agree in your divorce agreement to pay off a certain credit card and then file for bankruptcy this liability will return to you if you ex spouse becomes responsible, joint debt is the common example, and the credit card company takes their bill to court.

There then is an argument that it makes sense to file for bankruptcy before you assume responsibility for any debt in the course of your divorce if you file for Chapter 7 Divorce. In contrast a Chapter 13 Bankruptcy allows you to fully discharge the debts you have taken responsibility for in your divorce.

CHAPTER 13

If you decide to file a Chapter 13 Bankruptcy several issues will confront you if you file for divorce. You must be a married couple to file for a joint bankruptcy. When you divorce you cannot maintain the benefits of filing or continuing a joijt chapter 13 bankruptcy. The Bankruptcy Trustee can file to dismiss your case. It is an option for the trustee. Usually yopur divorce case is taken in two parts, first you are divorce and second your property is divided after the chapter 13 bankruptcy is dismissed.

see: http://www.attorneybankert.com

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