Bankruptcy And Divorce In Texas
Financial problems are one of the leading causes of divorce in our country today. It is no surprise that the need for bankruptcy commonly arises as many couples are ending their marriages. While a divorce lawyer can skillfully guide you through the marital dissolution process, if you have significant financial concerns during your divorce, it is best to consult with an experienced bankruptcy attorney in order to protect yourself and your financial position.
Should I File For Bankruptcy Before Or After Divorce?
At Gipson, Norman & Root, we have helped thousands of people obtain debt relief through bankruptcy. Many of our past clients, just like you, were facing the divorce process when they came to us. In the majority of cases, we advise clients to file for bankruptcy jointly with their spouses before the divorce is finalized. That way, there will be no debt to divide in the divorce. If you obtain a divorce and then decide to file for bankruptcy, you may not be able to discharge the debt that you were awarded in the divorce.
It is important to note that every individual and couple will face a different set of circumstances when it comes to divorce and bankruptcy, so we advise you to discuss your position with us directly. You may have additional factors that could influence our best advice for you.
Child Support, Alimony And Bankruptcy
Past and future child support and alimony payments are not dischargeable through bankruptcy. However, there may be options to restructure your past-due payments for these financial obligations through Chapter 13.
Contact Our Galveston, Texas, Bankruptcy Lawyer
Gipson, Norman & Root is a debt relief agency. We help people file for bankruptcy under the Bankruptcy Code.