Divorce and Bankruptcy....Options?
Here we are, had this question a few times about bankruptcy and divorce, recapping a bit and giving you some information along with some opinions.
I believe that if you can, and remember things will be split in the divorce, not one spouse will take on all the bills after the divorce, so this is something to remember. There are also companies out there now that will consolidate all your bills together for one low monthly payment, yes it make take longer to pay off but you are doing it. There is also taking one thing and working hard to pay it off then the next, so remember there are options besides bankruptcy , but if it is really your last resort and you realize your going to have to. Here is some information I am giving you on bankruptcy and divorce.
Divorce is never easy at all, I do not care what people say, it is stressful and now here you are trying to figure out your bills and how your going to do it! Now I will say, if you and your spouse know you are heading for divorce, which most couples sometimes do, and you realize you have all this debt and you have researched all the avenues of splitting it up and how you will make it after the divorce. Even though most couples do not sit so calmly and talk about things, it is cheaper for bankruptcy as a couple, then if you were to file separately after the divorce, and one spouse can not file for divorce on any of their stuff DURING the divorce, we may talk about that tomorrow. There is a law that stops it from happening during the divorce. So do not think that can happen to you and then your stuck with all the bills. So lets say this if you do see the divorce coming, you can still talk as a couple it is cheaper to do it before the divorce as a couple then after separately. You may also need to talk to your spouse about this even if things are really bad. I feel to spring a divorce on anyone is an unkind thing to do, or leaving without notice, unless you are in a horrible situation , at least let your spouse know.
We we also talk about not being able to divorce and bankruptcy at the same time in another blog soon.