Charlotte Divorce & Bankruptcy Attorney

Charlotte Divorce & Bankruptcy Lawyers

Charlotte Divorce & Bankruptcy Lawyer Serving North Carolina

Facing divorce and bankruptcy around the same time is not an easy situation to be in. Financial concerns within a marriage can spark disagreement that ultimately leads to divorce. A difference in how you and your spouse handle money and take on debt can also cause irreconcilable differences. Or, your decision to get divorced could be completely unrelated to why you are considering bankruptcy. If you know that you are headed for both divorce and bankruptcy, it is important that you have all the information you need to proceed in a way that will serve your interests well.

Blossom Law Group is highly knowledgeable when it comes to cases where bankruptcy and divorce coincide. We understand the difficulty you are facing. Our goal is to help you manage your bankruptcy filing in the way that is best for you. You need an attorney who understands the complex interplay between bankruptcy, marriage, and divorce in order to guide you through this often confusing process and into your life after bankruptcy. Trying to handle this legal situation alone could result in you getting saddled with debts that really are not yours.

Gastonia Legal Guidance Deciding Between Bankruptcy and Divorce as Your First Move

The first and perhaps most important decision to be made is whether to file for divorce first, or whether to file for bankruptcy together with your spouse and then get divorced. It is important that you allow an experienced attorney to guide this decision, as the consequences of making the wrong call can be severe.

If you and your spouse both have debt, or primarily have debt together, and are in agreement about filing for bankruptcy, this should probably be done jointly before you start your divorce. If you are not in agreement, you might want to wait until after the divorce. Filing for bankruptcy on your own while still married, you could wind up getting some of your spouse's obligations, like credit card debt, in the divorce. You may also need to wait until after the divorce if you plan on using Chapter 7 and your spouse's income would prevent you from passing the means test, barring your eligibility.

We will discuss all the risks and benefits associated with timing your bankruptcy filing to be before or after your divorce. We understand the multitude of factors to be taken into consideration when making this important decision and will put your interests first. Blossom Law PLLC is uniquely capable of handling these multifaceted cases.

Attorneys in Union County for the Effect of Bankruptcy on Divorce

If you do end up filing for divorce while your bankruptcy is in progress, the first thing that will happen is that the court will automatically issue a stay on any property subject to distribution. This will stop all creditors from attempting to collect on debts, including by repossession or foreclosure.

No marital property will be distributed until the bankruptcy has been finalized. A bankruptcy filing effectively pauses your distribution of marital assets. Ongoing obligations after a Chapter 13 filing will ultimately need to be divided if you filed together. Any domestic support obligations, like child support or alimony, can become very complicated when divorce and bankruptcy are both in progress.
You will need the assistance of a qualified attorney in order to navigate this highly complex scenario.

Contact a North Carolina Attorney for Divorce & Bankruptcy

If you are dealing with divorce and bankruptcy at the same time, Blossom Law PLLC is well-equipped to guide you through this often complicated process. We are skilled at addressing the interplay between divorce and bankruptcy. Call 704-271-9078 or contact us online for a free consultation.

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