My spouse and I both want a divorce. We also need to file for bankruptcy due to our significant debts. What should we do first: file for divorce or file for bankruptcy?
The answer depends on the circumstances of your case, according to a recent article in Lawyers Journal written by Pittsburgh attorney Beth Slaby.
“If the spouses are on amicable terms, it may be best to file bankruptcy first,” she writes. “This allows both to share in the cost of attorneys’ fees and filing fees and could possibly protect them from paying joint debt.”
On the other hand, she writes: “The benefit of filing for divorce first may be that a married couple’s joint income is too high to qualify for a Chapter 7 bankruptcy case, but a person might be able to qualify individually after the divorce is final.”
Spivak Law Firm handles all areas of family law, including: divorce, child custody, child support, spousal support, alimony, division of assets and debts, and Protection From Abuse (PFA).
Call Spivak Law Firm at (412) 344-4900 or toll free at (800) 545-9390.