If there's a divorce planned in the near future, can that divorce still take place in the middle of filing . . . or, does the BK have to be final before divorce takes place ?
Thanks.
l
Thanks.
l
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Generally, it is better to complete the Divorce FIRST, then file BK. Mainly because the divorce decree will divide assets, establish any child or spousal support, etc. When that information is known, it makes the BK go much more smoothly. -
Supposedly,.......... It actually works better if you go thru the Divorce first and then file BK. If you get Divored first, you have a Court ordered division of assets, who owes what debts, and such.Filed Ch 7 - 09/06
Discharged - 12/2006
Officially Declared No Asset - 03/2007
Closed - 04/2007
I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.
Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen...Comment
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But . . .
a divorce takes a lot of time, as well as money. We are unable to make our payments now... plus, if we did it after the divorce, the filing costs, atty fees would be double.
in other words, is it possible to do it this way . . . . ? BK first ?
l
thanks againComment
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If you are going to file a joint BK, then sure, you can do it before the divorce, but then you have to wait until your discharged to START the divorce proceeding (the BK acts as an automatic stay to the initiation of the divorce proceeding...of course, in the course of the BK, you can file motion to lift the stay to begin the divorce prior to discharge, but then things get a little complicated).
If you are your spouse are on good terms (i.e. this is amicable divorce), then yes, do the BK first, and wait to start the divorce until after your are dischared.Comment
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