My husband and I are heading towards divorce. But, we are also going to need to file bankruptcy because we are facing foreclosure (also have a 2nd mortgage). Married, we would not qualify for chapter 7. If I were divorced, I could possibly qualify for Chapter 7. I hear its best to file BK before divorce is final, but in my case, I am not sure. Budget will be tight post divorce.Anyone have advice?
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I can almost guarantee that no BK attorney will take a case if you are in divorce proceedings. In fact, my attorney flat out refuses to take any client thet "may" be headed that way until they figure things out.
I suggest that you do one first and then the other.
A divorce takes longer than a BK. Can you wait? -
I have a similar situation because my wife has driven us into a C-13 situation. Given her actions, I would be far better off divorcing first, then filing the C-13. The major issue between us are the rental properties that I own... Arkansas's laws give her a spousal interest, even if they were purchased solely by me (through my LLC) and solely with my money.
It's best to get the divorce solved first, so that you know what the legal obligations to your ex-spouse are, plus you have the property divided up.Comment
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