Should You File Bankruptcy and Divorce at the Same Time?
A divorce often makes filing for bankruptcy a necessity. But if you have the ability to properly plan, there are ways to simplify each action and find some cost savings along the way.
The Boyette, Cummins and Nailos Law Firm has attorneys on staff who can help you file both your divorce and bankruptcy if necessary. We have worked with many families in Clermont and throughout Central Florida who have to deal with these difficult decisions. By contacting our firm right away, we can help you plan the best course to make the process as simple as possible. This can be a significant advantage over hiring separate attorneys to handle a divorce and bankruptcy.
Lowering Bankruptcy and Divorce Fees
Fees associated with bankruptcy filings are the same whether you file jointly as a married couple or individually. You may be able to save on Florida court fees in if you file jointly with your spouse. One joint filing can also help cut down on the attorney fees associated with two separate bankruptcy filings for you and a spouse.
A bankruptcy filing before a divorce can also make the division of assets, debt and property less complicated and thus save on divorce costs.
Should you Choose Chapter 7 or Chapter 13 Bankruptcy for Divorce in Clermont?
Chapter 7 Bankruptcy is the quicker route to declaring bankruptcy. It usually takes only a few months to receive a decision on how you can get rid of unsecured debts like credit cards and medical bills. It can take less time to complete before a divorce and thus can be a better option to save time and money.
Chapter 13 Bankruptcy can take three to five years to complete as you will make payments over that time to reduce the amount of your debt. If you choose Chapter 13, it is advised to file separately after the divorce.
There are many other factors to consider when deciding on whether to combine divorce and bankruptcy filings in Clermont. Every person and married couple’s financial situation is different. The allocation of debt and income qualification for different types of personal bankruptcy come into play, and contacting an attorney to help understand the laws associated with these actions is important.
The BCN Law Firm can help you wade through these decisions to come out with the most advantageous outcome in a difficult situation. Our bankruptcy and family law attorneys will work with you and your spouse to reduce costs and debt obligations. Please contact us today at (855)-LAW-2020 for a free consultation* on filing for bankruptcy and divorce. We serve Clermont, Lake County and many areas throughout Central Florida.