Guest post by Nathaniel J. Thompson, bankruptcy attorney at the Law Office of Nathaniel J. Thompson
It is not uncommon for bankruptcy law to interact with family law. In fact, one of the four most common causes for the filing of a bankruptcy is a recent divorce. Common questions that arise in family law when a bankruptcy is filed include whether any debts incurred through the divorce and related proceedings may be included in the discharge.
Before answering the above question, it should be noted that a married couple may file a joint bankruptcy case at any time before a court enters the divorce decree. If the parties may cooperate with doing a joint bankruptcy, in a lot of cases it is beneficial to do so, to simplify the debt division in the divorce. It also reduces the total cost for bankruptcy, as typically, a joint case is cheaper than two individual cases. Continue reading “Bankruptcy and Divorce Proceedings: What Debts Can Be Discharged?”