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When Financial Woes Accompany Divorce, Your Broward Lawyer Can Help
Submitted by georgepatel15
Wed, 30 Jan 2013
Sometimes major financial problems coincide with divorce. In fact, chronic financial problems can be a major contributor to a divorce. Dealing with bankruptcy and dealing with divorce are difficult on their own, but together they present a particularly thorny legal situation. While any lawyer in Broward County can help with these problems, working with a family lawyer who is experienced in divorce cases and the property settlements that go along with them is your best choice. He or she can advise you on which steps to take first, and how to protect your rights as a debtor and as a spouse.
Divorce Related Debts and Bankruptcy
If you are already divorced and are facing bankruptcy, then bankruptcy won't discharge alimony and child support payments you are required to make. If your divorce settlement requires that you hand over property or money to your former spouse as part of a property settlement, bankruptcy will probably not relieve you of those debts either. There are a very few exceptions to these rules, and your Broward County family lawyer can advise you as to whether any of them apply to you. In general, expect bankruptcy to complicate divorce, and expect divorce to complicate bankruptcy proceedings.
Property that is Protected
In Florida, some property is protected in bankruptcy cases, regardless of how much debt you have. Typically, you can keep your home, and you can keep your car as long as it is worth less than a specified monetary value. You usually get to keep many household goods and clothing. Bankruptcy laws, which sometimes change, specify which items and in what amounts are protected in the event of bankruptcy. Working with a family lawyer in Broward County is your best plan for dealing with the complicated situation of bankruptcy as it relates to your divorce and child support obligations.
Should Bankruptcy Be Completed Before Divorce?
In general, things are simpler if a bankruptcy is completed before divorce is filed. If your divorce settlement divides marital debts before your bankruptcy is settled, creditors can hold you responsible for your part of the assigned debts, whether those debts were created by you or your spouse. Often it is a good idea to wait for bankruptcy to be completed before filing for divorce. That way, creditors will not be allowed to come after you or your ex-spouse for most of your old debts. You should be aware, however, that bankruptcy cases can take a long time to be settled, so don't expect it to be done with quickly.
Seek Help from an Experienced Broward Lawyer
Family law is complex, particularly if children are involved, and particularly if major debts are involved. An experienced Broward County family lawyer can help you make the smartest plan for proceeding with the divorce and dealing with financial troubles. Whatever happens, you will be held responsible for support for your children regardless of whether you successfully declare bankruptcy. Contacting a lawyer as early as possible is best, so that he or she can advise you of your legal rights and obligations and help make sure all legal processes are carried out properly.
Is bankruptcy a possibility in your life? Are you going through a divorce at the same time? If you're dealing with both of these complex issues at once, you'll definitely need a lawyer in Broward County to help you through the process. To find a Broward lawyer who understands exactly how to deal with the process, go to divorcebroward.com.
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