Following a divorce, it may be necessary for monetary arrangements to be made if one spouse was previously dependent on the other. When a couple is married, it is quite common for one spouse to earn the majority of the money, so a divorce can cause significant financial hardship for the spouse who performed household and other family duties. If the spouses are not able to reach an agreement, it may be necessary for the court to order spousal support. There are divorce lawyers in Houston, Texas who can help you to understand your rights and what to expect. Qualifying…
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.