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Recent Posts in Divorce and Bankruptcy

  • Divorce and Bankruptcy: Can They Both Be Filed at the Same Time?

    Posted By Allmand Law Firm, PLLC || 11-Jul-2016

    When you and your spouse are coming to terms with your marriage and finances, you may have questions regarding divorce and bankruptcy. Depending on your situation, you may be recommended to complete one before the other. Or, you may be able to complete each process at the same time depending on debts, income, assets, and any final agreements determined. There are a few points to review to ...
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  • What You Should Know about Filing Bankruptcy and Divorce

    Posted By Allmand Law Firm, PLLC || 13-Mar-2014

    Bankruptcy and Divorce There are times in which money becomes a problem for married couples looking to end their marriage, bankruptcy at some point may be something either or both spouses are considering. Some may wonder if it is best to file for one over the other while others may want to do them both at the same time just to get it over with. There are factors that should be reviewed when ...
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  • Can Bankruptcy Help Me Deal with Debts from an Ex-Spouse?

    Posted By Allmand Law Firm, PLLC || 6-Jan-2014

    While having the ability to make payments on debt obligations is enough of a struggle alone, some debtors have to deal with an ex-spouse who has yet to start paying their share of the debt. You may have a divorce agreement that details that is responsible for making payments on certain debts, but it may become a problem when the ex has not made payments. Creditors are now coming after you instead ...
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  • When You Need to File Divorce & Bankruptcy

    Posted By Allmand Law Firm, PLLC || 26-Sep-2013

    Divorce and bankruptcy commonly go hand in hand. Many people wonder if one should be done before the other. While divorce is a common reason why people file bankruptcy, there are a few areas to review that may help you determine which one to do first and how to do it efficiently to help ease each process. For the most part, understanding which option to do first may depend on where you live, how ...
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  • Can Bankruptcy Help Me if I am Behind on Spousal or Child Support Payments?

    Posted By admin || 7-Dec-2012

    Debtors who fall behind on making spousal or child support payments may be under the impression they cannot file for bankruptcy. In fact, if you meet qualifications and requirements to file, you can seek bankruptcy protection when you fall behind. Yet, keep in mind that bankruptcy may not discharge debt related to back child support or spousal support payments. Bankruptcy may help in discharging ...
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  • Bankruptcy after Divorce: Are You Liable for Debt that Belongs to Your Ex?

    Posted By admin || 7-Nov-2012

    It's common to wonder what may happen if your ex-spouse files for bankruptcy after divorce. While a divorce agreement may have been in place detailing who is responsible for outstanding debt, you may wonder if creditors have a right to pursue the other spouse. In some cases they can, but what if your ex-spouse files bankruptcy in contempt of the divorce decree? Could you force the ex-spouse to pay ...
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  • Dealing With Divorce During Chapter 13 Bankruptcy

    Posted By admin || 15-Oct-2012

    Chapter 13 Bankruptcy and Divorce If you and your spouse filed Chapter 13 bankruptcy and now you are filing for divorce, there are a few options to consider depending on the situation. A divorce is known for affecting different things in your life including ownership of property and finances. It is likely your divorce will impact your bankruptcy case but it may depend on the unique situation of ...
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  • What Happens When a Spouse Doesn't Report All of Their Income at Divorce?

    Posted By admin || 14-Sep-2012

    When a Spouse Doesn't Report All of Their Income at Divorce It's common for spouse to hide assets such as income during a divorce and for obvious reasons. They either feel they won't have anything left after property is divided or they are upset and bitter at their spouse and feel they are not entitled to anything they have. Hiding information may seem as if the spouse is being greedy but this ...
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  • What Information Should Be Included in the Divorce Papers?

    Posted By admin || 13-Sep-2012

    Divorce papers include important information that should be drawn carefully. It is often necessary to retain legal representation since certain provisions may include legal technicalities. Divorce papers may include information about child support, custody arrangements, property settlement and so on. The papers help many not only plan for life after divorce but also help to protect their futures. ...
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  • What is the Purpose of a Divorce Mediation?

    Posted By admin || 30-Jul-2012

    Divorce mediation allows couples who are ending their marriage to resolve issues outside of court. This option is often seen as an alternative to litigation that lets couples review important issues regarding a settlement. Couples are able to retain the divorce outcome by reviewing details with a third party; a mediator. This is a voluntary option but many couples have positive outcomes from ...
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  • What You Should Consider during the Divorce Settlement Process

    Posted By admin || 11-Jun-2012

    Some couples get so tempted to just sign the divorce settlement in a hurry just to get the process over with. Even when things look good they may not always be fair and for some, they find out after the divorce has been finalized. When making decisions regarding the settlement there are several areas that should be thoroughly considered. When the divorce settlement is being created, a spouse often ...
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  • Do I Need a Lawyer to Create a Separation Agreement?

    Posted By admin || 21-May-2012

    Having an attorney assist you in creating a separation agreement is optional. Some states may not require a separation agreement be created. Having legal assistance may depend on your financial situation. Some couples opt to create an agreement on their own if they can't afford legal services. Others feel that because of assets and the multiple issues involved in their situation, that legal ...
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  • Is There a Way to Protect Assets During Divorce?

    Posted By admin || 16-May-2012

    It's common to feel as if certain assets are in danger with a pending divorce. Couples set to end their marriage have several important decisions to make. Reviewing information regarding assets can determine how they are divided as well as how they can be protected. Depending on the assets in question, you'll want to review your situation in detail with a divorce attorney to understand how state ...
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  • Divorce: What Happens When I'm Not Happy with the Judge's Decision?

    Posted By admin || 13-Apr-2012

    Divorce can be a challenging time for everyone but the judge often works to make the best decision for all parties involved. While it's true one may not be happy with what is decided by the judge, the judge may see things in a point of view that sometimes is misunderstood by one or the other spouse. Overall, the judge determines a ruling based on information that is presented before the divorce is ...
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  • Common Questions about Bankruptcy and Divorce

    Posted By admin || 3-Feb-2012

    Questions about Bankruptcy and Divorce Dealing with financial issues during marriage is common but for some couples, money issues contribute to relationships that have gone downhill. With divorce being imminent, a spouse may become curious about what debt is owed, who will be responsible for paying it and what happens if someone isn't able to pay. Since there are multiple issues that may come up ...
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  • Advantages and Disadvantages of a Prenuptial Agreement in Divorce

    Posted By admin || 4-Jan-2012

    In the United States a premarital agreement, also known as a prenuptial agreement, is an agreement made between each spouse before marriage. While most property and assets acquired before marriage are protected by such agreement in divorce, it may or may not affect assets acquired during marriage. Prenuptial agreements give respect to property involved as well as obligations and rights of each ...
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  • Choosing to File Bankruptcy during Divorce

    Posted By admin || 3-Jan-2012

    Filing Bankruptcy During Divorce There may be concerns surrounding bankruptcy and divorce that should be reviewed before progressing through either process. Bankruptcy may be considered in or during a divorce when certain situations arise such as a job loss or medical illness. One may consider bankruptcy if they feel they will be unable to pay debt assigned to them after the divorce is final. Even ...
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  • Avoiding The Negative Impact Divorce Can Have On A Bankruptcy Case

    Posted By admin || 8-Sep-2011

    Divorce nearly cost a debtor the confirmation of his Chapter 13 bankruptcy case, after he failed to apply for a modification of his plan in a timely fashion. Details of the bankruptcy case: The Debtor and his estranged spouse, Mrs. Carlson, originally filed their joint Chapter 13 bankruptcy petition on December 28, 2005 ("Case No. 05-23252"). The plan was confirmed on October 6, 2006. The plan ...
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  • How Will My Divorce Decree Impact My Bankruptcy?

    Posted By admin || 25-Aug-2011

    Your Divorce Decree and Bankruptcy Divorced debtors considering bankruptcy are often concerned about agreements they made in their divorce decree. The good news is that if the divorced debtor's financial situation has changed in a way which warrants bankruptcy, they may be able to discharge certain debts. Those debts they are unable to discharge may be repaid over time if they are filing Chapter ...
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  • Protecting Your Credit During A Divorce

    Posted By admin || 22-Dec-2010

    How to Protect Your Credit During a Divorce Living in Texas, a community property state, married couples are exposed to the liability of debts accumulated by their spouse. Credit card debt is one of those areas where couples going through a divorce are particularly vulnerable. Below are a few tips on protecting yourself: Once you and your spouse have separated, make sure that you cancel all joint ...
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  • Can I Discharge Divorce Related Debts In Bankruptcy?

    Posted By admin || 14-Nov-2010

    Divorce Related Debts In Bankruptcy Generally speaking a debtor cannot discharge in bankruptcy debts that are categorized as "domestic support obligations. What are domestic support obligations? Alimony Child Support Or other debt that is accrued because it is related to supporting the spouse or offspring of the debtor. However a debtor may be able to discharge divorce related debt which is not ...
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  • 3 Tips For Surviving Bankruptcy After A Divorce

    Posted By admin || 5-Nov-2010

    Divorce can be a very difficult life transition; but going through bankruptcy after a divorce has its on set of challenges. Below are three tips for surviving bankruptcy after a divorce: Work with a good bankruptcy attorney who has experience working on bankruptcy cases involving divorce. Be sure to share all the pertinent information about your divorce that could impact your bankruptcy case. Make ...
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  • 3 Reasons Why You Should Consider Bankruptcy Before You Divorce

    Posted By admin || 24-Oct-2010

    The divorce rate in America is hovering around 50 percent, so if you're married, you've got a 50/50 chance that it will end in divorce. Unfortunately, the divorce is usually just the beginning of a divorced individual's troubles. After divorce a whole slew of money troubles can develop that put you deep into a financial hole, especially if you are already struggling before you get a divorce. ...
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  • Divorce and Life After Bankruptcy

    Posted By admin || 17-Sep-2010

    Going through a Divorce and Bankruptcy at the Same Time Finances are one of the biggest points of contention between divorcing couples. But going through a divorce and bankruptcy at the same time can create some special challenges that debtors need to be aware of. Below are a few tips on how debtors can successfully navigate bankruptcy and their post-bankruptcy life during and after a divorce: ...
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  • How Bankruptcy Could Impact A Divorce Settlement

    Posted By admin || 3-Jul-2010

    Whether you're the debtor considering bankruptcy or an ex-spouse of a debtor who is considering bankruptcy, any divorce settlement agreement made right before a bankruptcy filing could be impacted by the rules governing bankruptcy. Bankruptcy and Divorce Settlements Here are few things you should know: If an ex-spouse decides to file bankruptcy after a divorce settlement, their finances will be ...
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  • Can I Reduce Domestic Support Obligations In Bankruptcy?

    Posted By admin || 6-Jun-2010

    Debtors who owe domestic support obligations such as child support and alimony will not be able to discharge those debts in bankruptcy. However, a debtor who owes back child support or alimony may be able to use bankruptcy to make repaying those debts easier. For example, in a Chapter 13 bankruptcy a debtor who owes a large lump sum of back child support payments can avoid making one big lump sum ...
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  • Using Bankruptcy To Avoid Child Support Prohibited

    Posted By admin || 18-May-2010

    In the bankruptcy case of Larsen, David M.; In re, the bankruptcy court refused to redirect the debtor's funds held by a state court for the support of the debtor's minor children to other creditors. The details of the bankruptcy case: The debtor's former wife filed for divorce in 1999. During those proceedings, the debtor transferred mari­tal assets into the Magnum Opus trust of which he was the ...
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  • Court Denies "Unconscionable" Chapter 13 Bankruptcy Plan

    Posted By admin || 30-Apr-2010

    In the Chapter 13 bankruptcy case of Grafton, Thomas W. and Patricia M.; In re, the bankruptcy court sustained an objection to confirmation of the debtors' plan saying the plan was not proposed in good faith and that it was unconscionable. The details of the bankruptcy case: When the debtor-husband divorced his previous wife, he agreed that any obligations he owed in the couple's property ...
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  • Divorced Debtor's Interest In Marital Property Becomes Part Of Bankruptcy Estate

    Posted By admin || 27-Apr-2010

    In the bankruptcy case of Radinick, Kimberly A.; In re (Bohm, Trustee, v. Radinick) , the bankruptcy court ruled that any interest in a debtor's es­tranged spouse's property which was awarded to the debtor in a divorce action would be property of the bankruptcy estate. The details of the bankruptcy case: The debtor filed for divorce and requested equitable distribution of marital assets on Nov. ...
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  • How Support Obligations Are Handled In Bankruptcy

    Posted By admin || 23-Mar-2010

    When a divorced debtor files bankruptcy they are often facing a special set of circumstances that may impact how their bankruptcy proceeds. One of those special circumstances is the obligation to pay domestic support to a former spouse or child. For the purposes of bankruptcy, domestic support obligation is defined as money that must be paid to 1) a spouse, former spouse, or child of the debtor or ...
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  • Community Property And Bankruptcy

    Posted By admin || 4-Dec-2009

    The state of Texas is a "community property" state which means that property in which both spouses own shares and property acquired during the marriage is considered "community property." Community property only exists within marriage. What does this mean for a spouse considering bankruptcy? Married couples where one or both spouses are considering bankruptcy must carefully weigh whether they ...
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  • Filing Bankruptcy To Avoid Ex-Spouses' Bills - Not Allowed

    Posted By admin || 30-Oct-2009

    In the Chapter 7 bankruptcy case of Taylor, Anthony; In re, the bankruptcy court dismissed the debtor's case because it was ruled abusive of the bankruptcy system. The details of the bankruptcy case: "The Chapter 7 debtor admitted that his case was presumptively abusive, but argued that he needed to file due to the impending foreclosure sale of his former marital residence. When the debtor and his ...
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  • Marriage, Bankruptcy, and Community Property

    Posted By admin || 28-Sep-2009

    Community property rules have positives and negatives, but if you live in Texas you have to abide by them. When the subject of marriage and bankruptcy comes up, the next thing often mentioned is community property. Depending upon where you live, this may or may not mean anything to you, but Texas is one of nine states that adheres to the community property rules. An article on the associated ...
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  • Ex-Spouse's Claim Allowed in Bankruptcy

    Posted By admin || 13-Sep-2009

    In the bankruptcy case of White, Terry P.; In re, the bankruptcy court overruled a debtor's objection to his ex-wife's claim. The details of the bankruptcy case: "When the debtor and his wife divorced, he received the family home and was ordered to pay his wife $30,000 out of the proceeds from the property's sale. She received a lien against the property to secure that obligation. The divorce ...
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  • Texas State-Specific: Bankruptcy and Divorce

    Posted By admin || 8-Sep-2009

    Dealing With Bankruptcy and Divorce in Texas Divorce can often be a big factor when people are making the tough decision whether or not to file for bankruptcy. Sometimes, divorce is the cause of the financial hardship leading the individual toward bankruptcy. Other times, individuals need to know what the requirements are when it comes to divorce settlement proceedings if you already know you're ...
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  • Reveal Your Intention to File Bankruptcy During Divorce

    Posted By admin || 5-Aug-2009

    Bankruptcy and divorce can become very complicated, leaving some debtors unable to discharge certain debts if they fail to work with experienced and competent counsel. One of the reoccurring issues related to bankruptcy and divorce is the obligation of debtors to reveal their intentions to file bankruptcy to their soon-to-be ex-spouse. In the 2008 Texas bankruptcy case of Wendt, the bankruptcy ...
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  • Help! My ex-Spouse Maxed Out My Credit Card

    Posted By admin || 15-Jul-2009

    Divorce and finances can be a messy mix. Often after a divorce one spouse is left cleaning up the financial mess made by the other. But what should you do when an ex-spouse maxes out a credit card that still has both of your names tied to it? First of all, you need to find out what type of credit card account you had with your spouse. Was it a joint account, or were you (or your spouse) an ...
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  • Filing For Divorce? Don't Jeopardize You Bankruptcy With Manipulation

    Posted By admin || 26-Jun-2009

    In the bankruptcy case involving divorce and a Chapter 7 bankruptcy, a debtor allegedly used the threat to waive his bankruptcy exemptions as leverage in his divorce proceedings. The details of the case: The debtor filed Chapter 7 bankruptcy in March 28, 2005 and in July 2005 the bankruptcy court ordered the lifting of the automatic stay to allow the debtor's divorce proceedings to move forward. ...
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  • Struggling With Debt And Want A Divorce? You May Want To File Bankruptcy First

    Posted By admin || 26-May-2009

    Many couples struggling with marital debt that has been piling up every since their wedding day, have successfully used bankruptcy to get a fresh financial start. But what happens when couples are in debt and heading towards the divorce court? Well there are a few things you need to consider before you file divorce with a boatload of debt: Debts accrued during the marriage will be the ...
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  • Job Losses Forcing Divorcing Couples To Renegotiate Settlements

    Posted By admin || 24-Feb-2009

    According to an article in the The Dallas Morning News, many divorcing couples are finding themselves returning to the negotiating table after one party faces a job loss, reduced income or some other financial crisis. With the economy in turmoil, divorce settlements are becoming more fluid as job losses, foreclosures and bankruptcies reach a wider American demographic. With over 6 million ...
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  • Hostile Divorce And Bankruptcy

    Posted By admin || 21-Jan-2009

    Sometimes couples who are clearly hostile towards each and clearly want to divorce are entangled in a web of debt. Is it in the best interest of these couples to file bankruptcy before they file for divorce? Sometimes it is in the best interests of both parties to file bankruptcy before divorcing. First of all, when couples divorce they both often experience a significant drop in their living ...
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  • Filing For Divorce During Chapter 7 Bankruptcy Proceeding

    Posted By admin || 4-Nov-2008

    Many married couples who file for bankruptcy together unfortunately find themselves filing for divorce before their Chapter 7 bankruptcy has been discharged. So what happens when a couple wants to part ways but their Chapter 7 bankruptcy is still under review? Well, actually a joint bankruptcy, which can only be filed by spouses is two bankruptcy filings merged into one. So, if the married couple ...
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  • Discharging Non-Support Obligations From Divorce

    Posted By admin || 23-Oct-2008

    The 2005 bankruptcy law made non-support obligations from a divorce dischargeable in a Chapter 7 bankruptcy only if the discharge would not harm the spouse who is owed the obligation. However, Chapter 13 bankruptcy makes some debts from property settlements in divorce proceedings dischargeable under the law. Remember, only some property settlements, not support settlements are dischargeable under ...
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