Tag archive for ‘bankruptcy and divorce’
Why you need to file bankruptcy. . .
by Jay Jump on 3/04/10 | 5 Comment(s)
You can villify me later. For now, I need you to read and get some perspective. Pay attention because we’re going to move fast. You need to file for bankruptcy. Let me say it again for those of you who are still shaking your head. YOU NEED to file for bankruptcy! There, I gave you [...]
Jointly Owned Property May Be Subject To Forced Sale In Bankruptcy
by Richard Stokan on 2/15/10 | 1 Comment(s)
It is not unusual for debtors, specifically married debtors who file for bankruptcy protection separately, to co-own property. If you co-own property and intend to file for bankruptcy, you need to be aware that the trustee has the authority to force a sale of the entire asset including the co-owner(s) interest. See 11 USC 363(h). [...]
Love and Marriage (and Bankruptcy), Part 2: Who Has to Pay for What After Divorce?
by Steve Combs on 9/28/09 | 4 Comment(s)
Section 523(a)(5) of the Bankruptcy Code provides that a domestic support obligation is exempt from Discharge. What this means is that child support, alimony, and any debt classified as a “support obligation” will typically survive bankruptcy. What is less clear, though, is what happens to property settlements in bankruptcy. It is well known that regardless [...]
Love and Marriage (and Bankruptcy), Part 1: Are Both Spouses required to file?
by Steve Combs on 9/28/09 | 1 Comment(s)
As a former state court Magistrate who presided over nearly 18,000 family hearings and the former President of the Florida Association of General Magistrates and Child Support Hearing Officers, practicing Bankruptcy law has provided me a real change of pace. I am amazed, though, when I look at the interplay between bankruptcy and family law, [...]
Bankruptcy and Divorce, Should We Both File?
by John O'Connor on 5/12/09 | 0 Comment(s)
This article is the third in a four part series focusing on marriage and bankruptcy. Today we will tackle the difficult issue of bankruptcy and divorce. Disagreements over money and personal finances is one of the leading causes of divorce. Filing bankruptcy can have a major impact on divorce proceedings because ‘community property’ or property [...]
Will Bankruptcy Affect My Spouse?
by John O'Connor on 5/08/09 | 0 Comment(s)
Today I will begin a four part series on how bankruptcy affects married couples. One of the most common questions I receive as a bankruptcy attorney is: ‘how will filing for bankruptcy affect my spouse?’ The issue comes up most frequently when only one spouse is filing. Many have the mistaken impression that because you [...]
