While most couples do file bankruptcy together, there are some circumstances in which married couples might decide to file bankruptcy separately. In rare cases, such as newlyweds, for example, one spouse might file bankruptcy alone, which helps to preserve the non-filing spouse’s credit standing. However, certain aspects of the marriage will still be examined, so… [Continue Reading]
Why Would My Chapter 13 Payment Increase?
Chapter 13 bankruptcy allows a debtor to benefit from protection against aggressive forms of debt collection such as foreclosure, repossession, and wage garnishment, while requiring him or her to repay a portion of his or her debt. The repayment amount is based on the financial assets available to the debtor along with the amount of… [Continue Reading]
Divorce and Bankruptcy: A Perfect Storm
Divorce and bankruptcy are two areas of the law that can often overlap, affecting each other in many ways. Depending on which Chapter of the bankruptcy code a debtor files for relief may affect obligations granted in a divorce decree or settlement. When a person files for bankruptcy, “automatic stay” provisions come into play and… [Continue Reading]
