If Divorce Wasn't Bad Enough - Now Bankruptcy!

Unfortunately going through divorce is not just an emotional roller coaster but it's also a financial disaster. It has been my experience that most married couples rely heavily on two incomes. Losing an income makes it impossible to maintain their household when dealing with separation or divorce. Yes, Family Court will grant you some relief once the divorce decree has been entered and the debts have been divided, however, most individuals will not be able to pay the debts they have been ordered to pay. In order to relieve one from these debts and the legal liability that goes along with these debts many individuals opt to file bankruptcy (Chapter 7 or Chapter 13) either before or after they have filed for divorce.  Bankruptcy and Divorce seem to go hand in hand when talking about a fresh start.  Not only are these individuals starting a new chapter in their lives but are starting it debt free or at the very least with their debt under control. Filing for bankruptcy after a divorce may make it possible for you to save your home or keep your vehicle (Chapter 13).  In order to get your new life headed in the right direction it's important that you reevaluate your finances and make the necessary adjustments. Bankruptcy may be your answer for a fresh start and a new outlook.