Did you know that divorce is one of the main reasons consumers hire an Anaheim bankruptcy lawyer?
If you are divorcing your spouse because of financial problems, you should consult with a qualified Anaheim bankruptcy lawyer before rather than afterwards. One of the main causes for divorce is money problems. If you are in debt before you divorce, you may probably be in worse condition after the divorce. If your ex-spouse hires an Anaheim bankruptcy lawyer to discharge his or her debts, you may be liable for all the debts incurred during your marriage.
You might think your ex-spouse was the cause of your bad finances, but even after the marriage dissolves, you may still be in debt. You may divorce your spouse but you may not divorce the debts you incurred during your marriage. Your divorce settlement should divide up the debts, assigning responsibility for some to one spouse and some to the other. But the divorce settlement may not bind your creditors, who may legally collect from both of you. If your ex should file for Chapter 7, your creditors may come after you to pay. If you were barely making ends meet before, this may send you to an Anaheim bankruptcy lawyer very quickly.
It really makes sense to see a sponsoring Anaheim bankruptcy lawyer of Total Bankruptcy before you decide to divorce. If you are in debt and contemplating filing for divorce, you and your spouse may benefit from filing under Chapter 7 together, before getting a divorce.
With the help of a sponsoring California bankruptcy lawyer you should know where you really stand when it is time to divide up the property. It may save you both of you a lot of heartache and money. Chapter 7 or Chapter 13, however, may not be a way to avoid paying alimony or child support.
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Other things to know about the bankruptcy laws
When you file for either Chapter 7 or Chapter 13, you may petition the court to issue an "Automatic Stay" order. This prohibits any further action by your creditors to collect their debts from you. The harassing calls and bills should stop. You shouldn't have to worry about repossession of your car or foreclosure on your home. You may be given the chance to get your life back.
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The law mandates several restrictive provisions including the "Means Test" which limits a debtors' ability to qualify for Chapter 7 or Chapter 13 protection. Borrowers are required to get a certification from a debt counselor that they made efforts to reduce their debts outside of the courts. This certification must be obtained at least six months prior to filing in court and the borrower must pay for the credit consultation. In addition, the court has the power to either deny the filing or change a Chapter 7 filing to a Chapter 13 debt repayment plan.
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The purpose of this web site is to help you learn everything you need to know about bankruptcy, the process, your bankruptcy attorney and your legal rights. The best place to start is with the U.S. Bankruptcy Code. It delivers protection to people in financial jeopardy who are suffering under mountains of debt. Bankruptcy is your legal right.