Debt And Divorce Often Go Hand In Hand
It is well-known that financial problems are a stress factor in many marriages in trouble. Disagreements about money rank high on the list of reasons for marital breakdown. Sometimes financial pressures come from reasons out of a couple’s control: a health crisis, a natural disaster or a layoff, for example.
In other cases, mismanagement of funds is at the heart of marital discord. Whatever happened, whatever the source of debt in your marriage, and however far along you are toward or through a divorce, the fallout from excessive debt can be difficult to resolve.
Divorce Will Not Necessarily Resolve A Debt Problem
Even if you obtain a divorce decree allocating debt to your spouse, creditors may come after you as well if your husband or wife does not repay those debts spelled out in the decree. Enforcing a divorce decree can be as costly as potential benefits.
Divorce Brings New Financial Hardships
Family law attorneys’ fees typically add to the pain of debt burdens typical of divorcing couples. Income that used to support one household during a marriage will now support two households. Neither spouse comes out a “winner,” financially speaking, in a typical divorce. Debt that plagued the marriage remains a serious problem.
Ultimately, bankruptcy may become the only way to come out from under heavy debts that go along with a failing or failed marriage.
Debt And Divorce — Is There Another Way? Bankruptcy Offers A Fresh Start, Sometimes Leading To A Ray Of Hope For Troubled Marriages.
Perhaps your divorce is not yet a done deal. It may not yet be underway or not yet complete. A bankruptcy may lift the financial burdens enough to give you breathing room. Without the stress of fights over bills, you and your spouse may recover the will and the energy to tackle your marital problems and salvage the marriage. Many struggling couples have experienced similar benefits after filing bankruptcy.
We Welcome The Opportunity To Offer Personalized Advice About Debt
Never fear, we will not try to talk you out of a divorce, or talk you into a bankruptcy. Our bankruptcy law practice is not a personal counseling service. We are here to help you discover and implement debt relief solutions appropriate to your circumstances. Whether this happens before or after a divorce — or may actually help you avert a divorce — you can rest assured that our debt relief advice and assistance will be tailored to align with your best interests.
Contact Our Nashville Debt Management Attorneys | Free Consultations
Contact our office in Nashville at 615-256-8300 or our office in Cookeville at 931-400-2218. Or email us to arrange to talk to a Tennessee lawyer about debt and divorce, whether you seek bankruptcy or bankruptcy alternatives.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
