Sometimes the question that I get is whether I should file bankruptcy first or whether I should file my divorce first. It depends on your particular circumstances but a lot of times filing the bankruptcy first can actually simplify matters. Because if you have a lot of unsecured debt that you’re both jointly liable on, that’s wiped out in the bankruptcy and then you don’t have to fight with your spouse in the divorce as to who pays what.
Sometimes it’s just not possible to file a joint bankruptcy before you file for divorce. In fact, your household income, that is your combined income with your income and your spouse’s income, simply put may be just too high to qualify for Chapter 7. Therefore, a lot of times it may be better to just file for divorce first and then so long as your income meets the Chapter 7 requirements, then you can file for Chapter 7 bankruptcy and discharge your debts.
A final note to those of you filing for divorce first and then bankruptcy later. Usually, folks can go ahead and qualify for filing for Chapter 7 after divorce. Sometimes it’s not always possible because your income might be too much, but even if the income is too much your bankruptcy payment in the Chapter 13 case, it’s going to be a lot cheaper than if you failed the bankruptcy case when you were married. Please call me at 770-792-1000.