Divorce can Destroy your Credit
A divorce is the number one reason people will or should file a bankruptcy because the divorce is the quickest way to destroy your credit. If there is a separation now there are two homes to run. The attorneys to do the divorce are not cheap. One person was not working but watching the kids, Now there is day care. Credit cards that maybe were there but no great amount now are having to be use just to pay bill electric,gas,food, and so forth. Drinking a lot comes to mind which is not cheap at the bars.
But after all the dust settles decisions will have to be made on both sides in the divorce the cars were given to one the house another credit cards split up. To the creditors you are still both responsible for the debts. Maybe one of you can afford everything that you are to pay but the other one can not. If they don’t pay the creditor will come after the other person
This is were the bankruptcy filing is so important. Each person can surrender what the other person is keeping making you not responsible for it and now you can start over to rebuild after the filing of the bankruptcy. Very important not to bring the old debts to a new marriage.
Please fill out our free evaluation form to determine if bankruptcy is right for you.
