Bankruptcy And Divorce – Which One First?
Financial difficulties place strain on many families and are often a key factor that leads to divorce. A Chapter 7 bankruptcy filing can provide a financial fresh start. However, when a marriage breaks down at the same time you are considering bankruptcy, the timing of each is important.
Early planning makes a difference. At Weller Law, LLC, we can help you focus on preplanning for divorce and bankruptcy. In the alternative we can help you through these difficult times as they arise. Contact us as soon as possible at 618-277-3476.
At Weller Law, LLC, we can recommend whether you should pursue divorce or bankruptcy first. The answer will vary based on your individual circumstances and your goals for moving forward. Our experienced team has the knowledge to handle both your Illinois divorce and your bankruptcy case from our Belleville, Illinois, office.
Timing Is Everything
Often in the law, something as simple as a filing date or judgment date matters greatly. Consider a divorce case: The date the judge signs the final judgment affects your tax filing status and whether you are considered married for a full year. In bankruptcy, the filing date controls which debts are wiped away, and when.
In an uncontested divorce, it might make sense to file a joint bankruptcy before divorce to address both of your debts. But waiting and filing for bankruptcy after divorce could be a better option for you as an individual in a highly contested divorce. To determine the best choice for your unique situation, contact our knowledgeable attorneys at Weller Law, LLC.
Before You Make a Final Decision, Contact Us
For help with divorce or bankruptcy, complete our contact form, or call us at 618-277-3476 to schedule an appointment.
*We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.