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Joined: Jan 2001
Posts: 81
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Joined: Jan 2001
Posts: 81 |
Can anyone enlighten me on if it is better for H & I to file for bankruptcy before or after our divorce?<P>I know we both will be forced to file, so would it be wiser to file now, before the divorce preceedings take place?<P>I am meeting with H in 2 and 1/2 hours and would like to have some heads-up.<P>thanks!<BR>
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Joined: Dec 1999
Posts: 1,514
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Joined: Dec 1999
Posts: 1,514 |
A bankruptcy lawyer admitted to the bar in your state would be the only one who could answer that. And only after looking over your respective situations. <P>In general, bankruptcy should be delayed until you have hit bottom and all shoes have dropped, unless you have a major asset exposed that it might be possible to protect.<P>Some folks never bother with formal bankruptcy, or go the Consumer Credit Counseling route, or join Debtors Anonymous. Creditors can get together and force you into bankruptcy, but then it's on <I>their</I> nickel. I would think that you will have a clearer picture of your assets and liabilities after the Divorce, and it might be wise to delay until then; but I can't do more than guess.
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