Divorce
Divorce seemed to be one of the main reasons to think about filing a bankruptcy last week. For some it was because their home is up for foreclosure because of having to places to live or to busy paying their attorneys. So now the decision has to be made to save the house or let it go. Do you stop the sale at least for several months till the kids finish out the school year? The chapter 13 can help you keep the house as long as you want or only stay it long enough to allow you the time to find another place. If possible looking at both people filing a chapter 7 together if they qualify and stopping the sale for a couple of month. What they would be doing is surrendering the house along with getting rid of the credit cards and maybe the car they can’t afford now. This way after the divorce they both can start over.
IF only one person wants to file they can, but the other person will still be responsible for all the debts even if the divorce decree says something different. IF they both can not do a 7 together they might be able to do separate 7 or one do a 7 and the other a 13 to pay some of the debts and maybe save the house.
Along with the process of taking to your divorce attorney you should always consider talking to a bankruptcy attorney to make sure you know your options.
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