Should we file for bankruptcy before or after we file for divorce?

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Should we file for bankruptcy before or after we file for divorce?

Asked on December 3, 2012 under Family Law, Ohio

Answers:

M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

You don't give any details as to your situation. If you have joint debt your spouse will have liability for such debt as much as you do. Therefore, as to when to file for divorce, if it appears that you will both have to file bankruptcy, you may want to wait before filing. Then you can file together and save on costs/fees. However, depending on specific circumstances of your situation this may or may not be the right solution. The fact is that, depending on the property laws of your state and your incomes/expenses, it may or may not benefit you to wait to file. What you need to do now is to consult with a bankruptcy and/or attorney; they will be able to best advise on the matter. 


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