Should I file bankruptcy before or after I get a divorce?
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Should I file bankruptcy before or after I get a divorce?
I’m wanting to get a divorce soon. Everything is in my name, including the house loan. I’m expecting to get a divorce where I pay child support, my wife will keep a car, however that car is not paid for. I make roughly $3200 a month and have around $2900 in bills before gas, food, etc. Which route should I go? Bankruptcy before or after the divorce? Will I need to disclose that I have intentions to file for Chapter 7 to the divorce court?
Asked on July 3, 2012 under Bankruptcy Law, Oklahoma
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Given the fact that you are going through a marital dissolution where your and your spouse's assets and liabilities will need to be divided, I recommend that you file for bankruptcy protection before you get your divorce.
By doing so, dealing with assets and liabilities will be a lot easier to deal with down the road in the marital dissolution proceeding.
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