Bankruptcy and Divorce in Mesa, AZ
Mesa, Arizona Bankruptcy Lawyers | Mesa Divorce Lawyers
Many couples in Mesa, Arizona are not only fighting with each other, they are fighting their creditors, their debt, and searching for a way to start anew. Sometimes a dire financial situation creates so much turmoil that couples seek a legal separation or a divorce. If these same couples are planning for their financial future as well as thinking about a divorce, they must be cautious to make sure that they do what is best for their future.
One of the most important things to remember is that filing bankruptcy in the middle of a contested divorce is usually not a good idea. Debt awarded in a divorce decree is not dis-chargeable in a chapter 7 bankruptcy filing in Mesa, AZ. The determining factor comes down to whether the debt in the divorce is defined as support. As long as the debt in the divorce is NOT defined as support, it can be defined as debt that can be alleviated through bankruptcy. Thus, it is important to make sure the debts in the divorce are not included in the final decree, that way, either party may file for bankruptcy if necessary. To make sure that things are done properly in both the divorce and in bankruptcy, it is recommended that you seek the help of a Mesa bankruptcy attorney who could also assist you in your family law situation and/or divorce.
When filing for bankruptcy or divorce in Mesa, Arizona, there are many strategies which should be considered. One strategy is to file for joint bankruptcy before the divorce, especially for couples with a significant marital debt. (Though this isn’t always possible as sometimes the divorcing parties can not and will not agree on anything, helpful or not). In a joint bankruptcy filing, the couple can discharge the martial debt which will minimize fighting as to who is responsible for the debt in a divorce preceding.
In a divorce, several things change in financial situations of the parties involved. Income may shift, child support and/or alimony could be ordered. These changes in income could actually make in eligibility for a Chapter 7 bankruptcy easier. The changes in assets and income could actually make chapter 7 bankruptcy eligibility more obtainable. The Bankruptcy Court Trustee will usually ask for recent divorce decree and will question a divorce that seems to be sham. When dealing with a divorce combined with a bankruptcy, you will want to make sure that you have experienced counsel to guide you through all of the pitfalls of filing divorce in Mesa, Arizona and filing chapter 7 or chapter 13 bankruptcy in Mesa, Arizona.
Our Mesa Law Firm can assist you with your financial and family law needs. We are experienced in all divorce and bankruptcy proceedings. Let us help you though filing divorce and/or bankruptcy in Mesa, Arizona.