Tampa Bankruptcy & Divorce Attorneys
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 facing bankruptcy and divorce, our experienced bankruptcy attorney can help you accomplish your goals.
At Cohen & DePaul, our attorneys are experienced in bankruptcy in a variety of situations. We can help you understand your options while planning for, or going through, divorce. In most cases it is best to file for bankruptcy first with both spouses, 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. If your marital settlement agreement requires that one spuse be responsible for part of the debt and it ends up falling on the other spouse because of a Bankruptcy discharge, the filing spouse may be in violation of the settlement agreement. If both spouses file Bankruptcy before completing a divorce, all the debt is discharged and no debt is left to be divided as part of the divorce proceeding. Contact our law office to consult with an experienced Tampa bankruptcy 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 the bankruptcy process.
When Bankruptcy 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. Cohen & DePaul offers free consultations in both Tampa and Lakeland. For a Tampa chapter 13 bankruptcy attorney, please call 813-606-4446, 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.