Bankruptcy & Divorce
Unfortunately, many people get divorced because of financial problems. If you and your spouse have reached that point of no return and are choosing to end your marriage, you may wish to stay together long enough to go through bankruptcy so you each start your new lives with a clean slate financially.
If you and your spouse are on good enough terms to allow for it and you have too much debt, instead of splitting the debt as part of the divorce decree and each of you having to pay a portion of it, why not file jointly for bankruptcy before divorcing and discharging the debt that way? This removes the debt as a point of contention during divorce negotiations and allows both of you to move forward with a fresh start.
Our Jackson attorney handles both bankruptcy and divorce matters. We can be a Mississippi one-stop shop for these legal needs, helping you both move on with your lives. Call us at 601-500-5533 or contact us online to schedule your free initial appointment.Madison County Joint Bankruptcy Lawyer
If you and your spouse have already split and your debt load is just too much, you can still file for bankruptcy after divorce.
For many couples it is hard to refinance a home after a divorce. This results in one person ending up with the house and then discovering that he or she cannot afford the mortgage on his or her own. When this person stops paying the bill, the lender can sue the ex-spouse, who is still on the loan, for payment. A simple way to deal with this situation is to file for bankruptcy. You may be able to save your house and deal with your excess debt at the same time.