Going Through a Divorce during Bankruptcy

bankruptcy and divorce

If divorce is number two on the top ten stressors a person can go through, bankruptcy isn’t far behind. When the two go hand in hand, you have double the stressors.  However, sometimes couples believe the best way to get a fresh start following divorce is with bankruptcy. If you are going through a divorce and plan to file bankruptcy, you are going to need legal assistance. 

Try Not to File Both Legal Procedures at the Same Time

If the two of you are on decent terms, bankruptcy should be the first process you file for. A Brooklyn bankruptcy law firm can advise you how to effectively time the filing of each process. 

The reason bankruptcy should be first is because of the division of property process during the divorce. The court will not be able to effectively divide property and assets if a bankruptcy has an “automatic stay” on these assets. 

What Type of Bankruptcy is Best for Me?

If you want a quick divorce, then a Chapter 7 bankruptcy is best. These bankruptcies typically get rid of any dischargeable debt in three to six months. This type of bankruptcy permits the divorce to be filed sooner. A Chapter 13 bankruptcy is more of a long-term solution. Instead of getting rid of the debt, this type sets up a payment arrangement of three to five years. A chapter 13 can cause the divorce or separation to lag on for an extended period. The Brooklyn bankruptcy attorney you retain will explain and advise you which chapter is best for your situation. 

Do You Have to File with Your Soon-to-be Ex Spouse?

This again depends on the type of bankruptcy you are filing. If you want to file a chapter 13 in order to save the family home, then filing solo following the divorce is best. However, a chapter 7 should be filed together before divorce proceedings begin. The Brooklyn bankruptcy lawyer you hire will advise you if filing solo or joint bankruptcy is best. 

How Talking to an Attorney Can Help Customize my Plan

When searching for a bankruptcy attorney Brooklyn residents choose the Ursulova Law Offices.  The staff working for this bankruptcy attorney in Brooklyn NY will help you feel less anxious about filing for bankruptcy. The attorney you talk to will customize the plan that is right for both of your financial situations. 

We are able to navigate the system with a software that is state-of-the-art.  This enables us to provide you with satisfying results. All arbitration is submitted in a format which benefits the individuality of each client. 

Admitting you have a financial problem shouldn’t be something to be ashamed of. In fact, just the opposite, one should take pride in the fact they want to get a handle on their personal finances. Additionally, divorce shouldn’t cause any embarrassment. There is nothing wrong with admitting your marriage wasn’t meant to last forever. People grow, and sometimes it’s not together but apart. This is part of a person’s personal growth.  

When divorce and bankruptcy is inevitable, and people seek a bankruptcy lawyer Brooklyn residents choose the Ursulova Law Offices.  We care about each client and take their personal situation seriously. Contact us today, we have offices in the Brighton Beach, Garden City, Brooklyn, and New York areas.  Call today for an appointment to discuss how we can help get you back on the right financial course. Bankruptcy doesn’t have to be something to be afraid of. With the help of our attorneys you will be living a more financially secure and fulfilling life. Make the call today to Ursulova Law Offices, you will be pleased with the results we get you. 

Ursulova Law offices, P.C.

Contact Ursulova Law Offices, P.C. to find out how our NY Bankruptcy Attorneys can help you today. Our offices are located in New York, Brighton Beach, Brooklyn and Garden City.

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