Can you file bankruptcy on a divorce Judgement?
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Can you file bankruptcy on a divorce Judgement?
A typical divorce decree will spell out child support obligations and alimony. This means that if you file a Chapter 7 bankruptcy, you will not be discharged of any debt incurred in a divorce decree or separation agreement. But if you file a chapter 13, you will be discharged of your property division debt.
What happens if you divorce during bankruptcy?
Even if you get divorced during your Chapter 13 bankruptcy, you can still continue making your regular plan payments. Also, the financial burden of divorce and maintaining two separate households typically doesn't allow debtors to afford their regular plan payments.
Should I file bankruptcy before or after my divorce?
Bankruptcy Type If your bankruptcy is a simple Chapter 7 bankruptcy, then filing it before your divorce may be the best option. Since Chapter 7 bankruptcy can be filed and complete in just several months, there's no reason you and your spouse can't file jointly, discharge your debts, then divorce afterwards.
What happens if one spouse files for bankruptcy and not the other?
If a husband files bankruptcy without his wife, only the husband's debts are discharged. If the debts are held jointly, the non-filing wife will still owe even after one spouse has filed bankruptcy. The bankruptcy filing will appear on the husband's credit report, but should not appear on the wife's.
