As a bankruptcy attorney in Ashevlle, NC, I frequently speak with people who are making big changes in their lives. Many times, folks have found a new person they want to begin sharing their lives with. Other times, people are ready to move on from a bad situation. Former debts can make these transitions more difficult.
For people engaged, a quick Chapter 7 case can discharge their debt without effecting their fiance’s credit or obligating the household to pay back past due bills.
For people separating, discharging debts in a bankruptcy case can make the division of property much, much simpler. It can end the argument about who has to pay for what bill. However, bankruptcy is not designed to discharge debts to your former spouse. If you promise your ex to pay a bill in a separation agreement, that promise will likely survive a bankruptcy case. Your former spouse may also be eligible to file a case, and this is a common way to get all parties where they need to be.
What’s the result of all these bankruptcies? Most of the time, using bankruptcy as a tool can free up money which needs to be spent on taking care of children from your previous marriage or paying moving expenses necessary for the coming transition. If you have past debt, and are getting married or divorced, contact me free bankruptcy consultation in my Asheville office where I can explain the benefits and consequences of a filing.
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