Why Does Divorce Often Lead to Bankruptcy?
A Divorce is one of the main reason people file a bankruptcy. Reasons are the need for two homes and the expenses that go with that and usually the income has stayed the same. The credit cards are in both names and the judge will usually divide these as best as he can. Same with cars and the home. The problem sstart with no matter what the judge has said the credit cards do not care you are both responsible. If a car has been reposed they will come after either one of you or both.
The filing of the bankruptcy can reinforce what the judge has said surrendering what each does not want and reaffirm what you want to keep.
After the divorce you are wanting to move on with your life. Bankruptcy will let allow you to rebuild your credit on your own no matter what the ex-spouse does or doesn’t do.
Talking to a bankruptcy attorney before you file the divorce is a good idea.
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