Bankruptcy

[Red Bull]

What is the name of your state (only U.S. law)? New York

What effect does a bankruptcy filing have on divorce proceeding, including custody issues? If I am facing prospects of both, is it smarter to consult a divorce attorney first to draw up a bankruptcy strategy within the divorce process, or just treat them as separate problems?

 

[mistoffolees]

What is the name of your state (only U.S. law)? New York

What effect does a bankruptcy filing have on divorce proceeding, including custody issues? If I am facing prospects of both, is it smarter to consult a divorce attorney first to draw up a bankruptcy strategy within the divorce process, or just treat them as separate problems?

You can't treat them as entirely separate. The divorce attorney would have to know about bankruptcy in order to prepare the divorce docs.

I would suggest talking with your divorce attorney and ask his advice on your specific actions.

 

[Ohiogal]

And it is usual for the court to want to know if either party is declaring bankruptcy, has declared bankruptcy or is considering declaring bankruptcy in the future.

 

[lifeandthelaw]

In most cases, it would be advisable to file for divorce and get that settled AND then file for bankruptcy.

In most divorces, contested or otherwise, there is a division of the marital assets and debts. If you are already facing bankruptcy, then chances are a division of those debts and assets will reduce your overall responsibility. So one of two things will happen: you will no longer need to file bankruptcy OR if you still need to, at least you know that everything you are ultimately going to be responsible for is already included that decision.

If you file for bankruptcy first and settle all marital debts and create a payment plan based on both incomes, and then file for divorce, dividing out your portion of those payments may be more complicated than simply parting ways first.

I am simply offering an observation from practice ~ nothing I have said should be interpreted or utilized as legal advice in your particular situation.

 

[LdiJ]

In most cases, it would be advisable to file for divorce and get that settled AND then file for bankruptcy.

In most divorces, contested or otherwise, there is a division of the marital assets and debts. If you are already facing bankruptcy, then chances are a division of those debts and assets will reduce your overall responsibility. So one of two things will happen: you will no longer need to file bankruptcy OR if you still need to, at least you know that everything you are ultimately going to be responsible for is already included that decision.

If you file for bankruptcy first and settle all marital debts and create a payment plan based on both incomes, and then file for divorce, dividing out your portion of those payments may be more complicated than simply parting ways first.

I am simply offering an observation from practice ~ nothing I have said should be interpreted or utilized as legal advice in your particular situation.

This thread is a perfect example of why a poster should keep all of their questions in one thread.

OP has three going on right now and they all contain pertinant info.

The OP has a house that is being foreclosed upon, and he is the only person on the mortgage. I suspect that he is also the only person on a lot
other bills as well.

I agree that OP needs to be consulting a bankruptcy attorney. However, if he can handle the other bills (besides the house) he might be better off not declaring bankruptcy.