Filing for Bankruptcy during Divorce

AppointmentOk7991 · 2023-11-17T21:01:23+00:00

I am going through bankruptcy after she filed for divorce. I am sure jim is wrong there.

jimsmythee · 2022-11-14T19:41:19+00:00

You legally can't file bankruptcy during a divorce. You legally can't file for divorce in the middle of a bankruptcy.

Spouse A can't file for bankruptcy w/o Spouse B. When filing for bankruptcy, you have 1 of 2 options; "Single person filing bankruptcy" or "SpouseA and SpouseB filing for bankruptcy."

What you can do is file for divorce, and then complete your divorce. Then file for bankruptcy as a single person.

And generally, in a divorce, the amount owed from SpouseA to SpouseB would come out of a sale of a house during the house sale. The motions of the court would block you from selling the marital home, and putting your proceeds into a trust and then filing for bankruptcy to prevent your spouse from getting those proceeds from the house.

dday_throwaway3 · 2022-11-14T18:41:49+00:00

Divorce will be paused until the bankruptcy is complete.

stent00 · 2022-11-14T16:13:55+00:00

I filled for bankruptcy 4 years after my divorce. Had 30k in debt mostly lawyer bills I couldn't pay off as I pay 50% CS so instead of carrying the debt for like 20 years I went bankrupt. Best decision I've ever done. Now I have very little money but at least I'm not in debt. And my credit score 3 years later has fully recovered and I have a credit card with a 4k limit again that I rarely use.

pk2at · 2022-11-14T15:50:16+00:00

You are correct, all creditors get paid first, wife comes last and receives usually nothing or will likely to be asked to pay some creditors

junkmailbox121 · 2022-11-14T14:41:21+00:00

Filing for bankruptcy will put the divorce on hold until the bankruptcy is settled. Bankruptcy is at the federal level and divorce is at the county level. Try to hold out on filing for bankruptcy until after the divorce if possible

Greadle · 2022-11-14T11:33:38+00:00

Let the house foreclose so she loses equally. Bankruptcy is bad. You can restore your credit in four years with a credit card. Bankruptcy looks bad for a long time.

FunkyTownMascot · 2022-11-14T08:12:16+00:00

These are attorney questions because you could find yourself on the wrong side of fraud charges.

Title	Filing for Bankruptcy during Divorce
Author	david10277
Upvotes	2
Comments	12
Date	November 14, 2022 8:05 AM UTC (3 years ago)
Subreddit	Posted in /r/Divorce_Men
Original Link	https://old.reddit.com/r/Divorce_Men/comments/yusk7m/filing_for_bankruptcy_during_divorce/
Archive Link	https://theredarchive.com/r/Divorce_Men/filing-for-bankruptcy-during-divorce.1139904 https://theredarchive.com/post/1139904

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