Going through divorce is a difficult time in your life. However, it can also be a positive change in the long run. Although it is difficult to see beyond the immediate emotional trauma, it is important that you take steps to care of your emotional well-being. In Texas, a divorce can take quite some time to finalize, so it is important that you can adapt to this pivotal change in your life. You are inevitably going to have moments when it seems impossible, but there are ways to keep stress levels to a minimum. Here are a few of them.…
In today’s economic times, divorce and bankruptcy often go hand in hand. It’s important to know what role bankruptcy can play in a pending divorce suit.
You may be able to file for divorce while you have a pending bankruptcy filing and the court may render judgment on issues such as child support or conservatorship issues. Many courts will not award property while your bankruptcy is still pending and your divorce may not be finalized until the bankruptcy has been discharged.
If the court does allow your divorce to be finalized, bankruptcy can have an effect on the property and debts that were awarded in the final decree of divorce. Obligations entered into in a divorce settlement are considered non-dischargeable, which means they may not be discharged in a later bankruptcy filing. And while creditors can’t come after you for payment after you’ve filed for bankruptcy, they can go after your ex-spouse for payment for any community debts. That opens you up to financial liability to your ex-spouse even after your divorce is finalized.
The complexity involved in a joint divorce and bankruptcy make it imperative that you are represented by an attorney who is experienced in divorces involving bankruptcy. Please contact the Ramos Law Firm if you are interested in consulting with an attorney and obtaining more information.