Divorce and BankruptcyDivorce and Bankruptcy: Divorce is painful and can leave us in financial ruins. We are often clouded with emotion and are unable to make sound financial decisions that will protect us.

Make sure to hire someone who is thinking practically and not emotionally. If filing for bankruptcy is necessary, than proper means must be taken to make sure your debts are dischargeable. Divorce is ugly. Hurting the other party is also ugly. Your best means of protection is protecting yourself, your assets, and relieve yourself of shared debts.

Filing a joint bankruptcy with your spouse before a divorce can save you a lot on court fees. Also, if you decide to hire a bankruptcy attorney, your attorney fees will likely be much lower for a joint bankruptcy than if each of you filed separately.

If you need to file bankruptcy, save yourself a lot of misery and do it before matters reach this point. When you file a bankruptcy petition, you are protected by the automatic bankruptcy stay against collection efforts and you don’t need to worry about being held in contempt of court.
For more information regarding your specific situation, contact Minnesota Bankruptcy Attorney Gregory J. Wald at 952-921-5802 or at www.www.gregorywald.com for a consultation.