What do you do when you are divorcing and need to come to agreement regarding a property settlement, but your house, formerly your largest asset, is now underwater?
Getting a Divorce in Texas? Should You Also Be Considering Filing for Bankruptcy?
It's common knowledge that one of the leading causes of marital strife, and of divorce, is financial problems. Whether you are seeking a divorce or have been served with a divorce complaint, you may need to get a fresh financial start as well as a new emotional beginning. The timing of a bankruptcy petition can have a significant impact on the resolution of a divorce proceeding. This blog post addresses some of the concerns you may have regarding the interrelationship between divorce and bankruptcy.
Frisco, Texas Bankruptcy Divorce Lawyers
In today's world, it's not uncommon for financial troubles to end in divorce. As a result, more and more couples find themselves facing bankruptcy and divorce. Consequently, the question often arises: should I file for bankruptcy before or after divorce? While each case is different and requires a careful consideration of a number of legal and financial issues, in general, filing for bankruptcy first may be in the interest of both spouses.