Can I File For Bankruptcy at the Same Time That I File For Divorce?
Filing for bankruptcy at the same time that your divorce is pending with the court is really not a good idea. When a person files for bankruptcy, the court
issues an automatic stay. This means that no creditor can collect on debts owed by that person until the bankruptcy is finalized - the person’s assets and debts become the property of the bankruptcy estate.
Therefore, should the same individual be going through a divorce at the same time, the family court may be unable to divide and distribute assets and debts until the bankruptcy has been completed. Similarly, family courts tend to consider the divorce proceedings to also be on hold until the bankruptcy is finalized and will wait for the bankruptcy to be completed before continuing with the divorce proceedings. Thus, this can lead both the bankruptcy court and the divorce court ...
Watch & listen as Bonnie Lonardo discusses the foreclosure process in the video titled "Can the Bank Just Kick Me Out of My Home During a Foreclosure?" PLAY VIDEO | PLAY PODCAST
DID YOU KNOW? Family Law Fact
Nevada family courts require parents take a mandatory class for any divorce that involves children. Because the best interest of the child is a high priority for family courts, the state of Nevada has introduced these classes to help parents aid their children through the often difficult transition. VISIT FAMILY LAW BLOG
FAMILY LAW
Nothing is more important than your family. At LJ Law, we offer help in cases such as Divorce, Pre and Post-Nuptial Agreements, Annulments, Alimony, Child Custody and Visitation, Adoption, Child Support, Guardianship, Paternity and much more.
Bankruptcy is a legal process where you can eliminate or repay some or all of your debts. It gives you a financial "fresh start", relieving you from the overwhelming stress of your debt burdens. LJ Law can help you understand and apply for a variety of debt settlement options.
