Is Bankruptcy Right for You?

5 Stars

Joey C

After months of talking to bankruptcy attorneys and looking for one that was honest and trustworthy, I was fortunate enough to find Sun Coast Law. They were completely honest from day one, and was so thorough in walking me through the process. The staff is incredibly easy to work with, and they are so detailed to make sure you have everything complete, correct, and ready to go. I can honestly say that what seemed to be the hardest choice of my life turned out to be the easiest, worry free process. I truly am grateful to have had such a great team working for me.

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Divorce and Bankruptcy

Divorce is a difficult time for both parties involved. Just as the division of assets and property must be managed, liabilities are also divided. Sometimes the final property settlement for each spouse includes more debt than one or both individuals can handle. If you are thinking about divorce, you may want to consider filing for bankruptcy before dissolving the marriage and dividing property.

SunCoast Law handle clients with heavy debt, contemplating divorce. Consult with us prior to filing for divorce to mitigate unnecessary financial liabilities from the marriage. We will thoroughly explain every phase of the bankruptcy process and help you explore all legal remedies within the law as it pertains to married couples. If you cannot file joint bankruptcy we can help you eliminate or restructure debt so that the final settlement is more manageable.

One Spouse Accepts Debt

As part of the divorce settlement, your spouse may accept your part of the joint debt. Even if this happens, your name will still be on every loan and credit card agreement the two of you ever shared.

If your spouse fails to make the agreed upon payments, you are still liable in the eyes of the creditor. Even if you explain your financial arrangement to lenders who attempt to collect from you, this is usually of no consequence. Because of this, it is critical that your name is removed from loan and credit card agreements before your divorce is final.

If You Have Accepted the Debt as Part of Your Settlement

Once you accept the marital debt within the divorce settlement, it is difficult to have it discharged through Chapter 7 bankruptcy. Bankruptcy courts usually consider it as part of the spousal support responsibility. Because child support and alimony cannot be discharged under bankruptcy code, you must reduce or eliminate any other debt before you and your spouse divorce.

Explore your options for bankruptcy and debt relief before you file. You may not be able to eliminate some debt after the fact.

If you’re considering divorce, contact SunCoast Law to consult with a bankruptcy lawyer today at, (844) 330-2727.

We offer debt relief solutions in compliance with U.S Bankruptcy Code.

Our Locations

Orlando

1209 Edgewater Drive

Suite 203A

Orlando, Florida 32804

(407) 413-8400

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Tampa

400 N Ashley Street

Suite 1900

Tampa, Florida 33602

Fort Myers

8831 Business Park Dr

Suite 301

Fort Myers, Florida 33912

Jacksonville

10751 Deerwood Park Blvd

SouthWaterview II, Suite 100

Jacksonville, Florida 32256