Bankruptcy And Divorce Often Go Hand In Hand

Whether you are trying to manage your debt as you go through a divorce or you are filing for bankruptcy after your divorce, it is important to plan accordingly. An experienced bankruptcy attorney can help you come up with a plan that works for your family. At the Royal Oak and Flint offices of Bidwell Tovarez PLLC, we help families manage their debt along with their family law concerns. We can help you handle bankruptcy and divorce.

Your Divorce Settlement May Be Impacted

Managing major debt and going through a divorce are two of the most stressful situations a person can go through, and for many people, they are interrelated. There are important laws regulating how divorce settlements are affected by bankruptcy and our lawyers can help you understand your rights, so we can create a plan that works.

It May Be Possible To Restructure Support Payments

The most important thing to understand about filing for bankruptcy after your divorce is that obligations under your settlement are not dischargeable. You have to make payments on both alimony and child support. Under Chapter 13 bankruptcy, however, restructuring spousal and child support payments is possible. You have flexibility and options, even though the debt will not be discharged.

Consider Filing Bankruptcy Together

If you are both having financial problems while going through a divorce, you may be better off filing for bankruptcy together to come out with a really fresh start. Your bankruptcy attorney and your divorce attorney can work together to take into account the full impact of your current financial situations to help you properly plan for your future.

Contact Us To Learn More

Filing for bankruptcy and filing for divorce will impact each other. Before you make any important decisions regarding either one, make sure you understand the full impact of your choices. From our offices in Royal Oak and Flint, we help families across Michigan plan for divorce and bankruptcy. Call 248-237-3718 or contact us today for a free initial consultation.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.