Filing for a divorce is one thing, but adding bankruptcy to the mix can be extremely stressful. This is a process that is going to involve both you and your soon-to-be ex-spouse, and you're trying to do everything correctly to get it done before you end up having to be responsible for debts you may not have even had much to do with. If you are going to be filing for divorce and also need to file for bankruptcy, you need to be sure to discuss everything with both of your attorneys to ensure your bankruptcy ends as planned and you aren't stuck with debts after all is done. Read on for what to expect when you file for bankruptcy during a divorce.
Include All Debts
Be sure you are including all of your debts, both the ones you had together and those that are just in each other's names. A creditor could attempt to come after you if your spouse doesn't include something in the bankruptcy, so be sure every single debt is included in the bankruptcy. You may be surprised to find some debts you weren't exactly aware of, but keep an open mind that they are going to be included in the bankruptcy.
Don't Play Games
You want your bankruptcy to go off without a hitch, as well as your divorce, so be sure you aren't playing games such as the other person was supposed to make the payments and you aren't going to pay for their portion or do anything that could cause the bankruptcy to end up dismissed before the actual discharge. If this occurs, you'll be left with the debts and have to start all over again.
Be honest and open about all of your debts and your income as well. If you're lying about your income to hide it from the other spouse, it could end up blowing up in your face, and you'll be left with a dismissed bankruptcy. The bankruptcy trustee will find information, and if caught, you could also not be able to file for bankruptcy for some time.
If you are filing for bankruptcy during a divorce, it can be very stressful. You're already going through something and now you're adding another stress on top of that. In the end though, you'll be able to start your new life without debt and be able to live without the stresses that come with having so much debt. Call a bankruptcy attorney today to discuss this type of bankruptcy situation.