Bankruptcy and Divorce Attorneys in Avondale, Arizona
Avondale Family Law and Bankruptcy Law Firm
A couple going through divorce in Avondale, Glendale, or Surprise, Arizona often find it helpful to include declaring bankruptcy as part of the plan to divide assets. At My AZ Lawyers, we can help you with both your bankruptcy filing and your divorce as we have dedicated bankruptcy attorneys and an experienced family law department.
Times are a changing in Arizona as it used to be that the main thrust of a divorce case was to decide:
- Who gets custody of the kids, in Arizona we are politically correct. These are parental rights.
- Who gets to pay child support
- Will there be Alimony or spousal support?
- Who is responsible for the bills? The mortgage??
- How will the marital assets be divided?
The domestic relations landscape has changed with the twenty first century. In most cases between working people the key issue is splitting the debt. Someone will be awarded a home that is worth less than what is owed. Most couples also have massive credit card and/or medical debt. Someone has to be ordered to pay it. The court will try to fairly divide the assets and the debt. In the following video, Process of AZ Bankruptcy During Divorce, My AZ Lawyer Rob Curigliano offers some advice regarding the need for legal assistance with bankruptcy and divorce.
As a married couple there is probably not enough money coming in to make it work financially with one home. How is the same income going to work for two homes with one, the other, or both of you under a court order to pay bills you can’t afford?
Filing bankruptcy during the course of filing for divorce can be a very helpful tool. Imagine being able to resolve your family issues without the need to worry about paying off the marital bills.
When considering filing for bankruptcy during a divorce there are a few things to consider. If the bills are in both names then it will be necessary for you both to file for Chapter 7 Bankruptcy. The benefit of filing before divorcing is that you can file “jointly”, even if you are not living in the same household but are still married. In my office the difference in cost between a single and a joint bankruptcy filing is the cost of one extra credit report, approximately $20.00.
Think about it for a moment, take the bills off the table. Suddenly one of the biggest sticking points to resolving your divorce is gone. Negotiations can get under way. Resolutions are easier. Divorce attorney fees are lower. Divorce and Bankruptcy when you have lots of bills is win win. You don’t even have to wait for your divorce attorney to suggest it. Thinking divorce or dissolution and filing bankruptcy? Give us a call and find out how a combination may benefit you.