Bankruptcy First — Then Divorce
Money problems often lead to marriage stress which can result in a divorce. Divorce and bankruptcy can be tricky matters and they are sometimes more connected than people think. If you are considering divorce and bankruptcy, an experienced attorney can help you accomplish them both without causing additional problems for the other party.
At Cohen & DePaul, our attorneys are experienced in both family law and bankruptcy. We can help you accomplish either one, in either order, but in most cases it is best to file for bankruptcy first then divorce. The reason for this is simple:
During a divorce, the marital property is divided. Property division includes marital assets as well as marital debts. If you file for bankruptcy after divorce, your spouse may be liable for 100% of the marital debt. Contact our law office to consult with an experienced Tampa bankruptcy & divorce lawyer.
Florida Debt Division Lawyer for Divorcing Couples
There are a number of considerations for you and your spouse if you are considering divorce and bankruptcy.
- If you file for bankruptcy prior to divorce, you can share a bankruptcy attorney.
- You must fully disclose all of your assets and liabilities during divorce. If you fail to disclose a personal bankruptcy, you could be found in contempt of court.
- If you both file for bankruptcy after divorce, there will be two filing fees and two sets of attorney fees.
- If you divorce and your former spouse files for bankruptcy, you may become responsible for all of the debts.
- Income and liabilities are calculated in child support and alimony determinations. Filing bankruptcy after the divorce may require post divorce modifications.
As you may notice from the considerations above, it is a wise idea to involve an attorney prior to starting either process.
When Experience Matters — Contact Cohen & DePaul
We provide you with the personal attention and care you deserve and always make sure you understand your rights and options. Although our main law office is in Tampa, we also serve clients from satellite offices in Lakeland and St. Petersburg. For a Tampa chapter 13 bankruptcy attorney, please call 866-968-1924, or contact our law office to schedule a free initial consultation.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
