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  1. #1
    Join Date
    Jul 2009
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    2

    Default Is it Okay to Divorce Before Bankruptcy

    My question involves bankruptcy in the state of: CT
    Hi
    My wife and I are mid-divorce, but have not even been to court yet. I filed and she was served in February.

    Lately we have been communicating OK, and I think there is a chance with the help of a moderator, we can be officially divorced soon.

    Although I have tried to avoid it, it is inevitable that I/We need to file for Chapter 7. I talked with a bankruptcy lawyer today who said it would make the divorce much easier if bankruptcy is done first.

    If I go that route it will be months and months before we get divorced. Neither of us want to wait that long.

    So here is my question, can the divorce decree been written up in such a way that it will now bog down the bankruptcy? We both prefer to file separately but at the same time.

    We have about 45,000 in CC debt with 90% having both names on them.

    We decided to both be cooperative with each other. So do you think it would be OK to get the divorce done first?

    Thanks
    soxfan

  2. #2
    Join Date
    Sep 2005
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    Default Re: Is it Okay to Divorce Before Bankruptcy

    I think you should go through the bankruptcy first. If you can't wait that long to marry your new girlfriend, I suggest that you have your divorce lawyer work with your bankruptcy lawyer, and be prepared to pay a good chunk of change to both.

  3. #3
    Join Date
    Jul 2009
    Posts
    2

    Default Re: Is it Okay to Divorce Before Bankruptcy

    While reviewing bankruptcy forums, I came upon this and don't recall if I ever saw response. Mr. Knowitall-where did I say I wanted to marry a new girlfriend? It is true-but how did you know that??

    Update-we took your advice and decided to file jointly prior to divorce-HOWEVER stbx dragged her feet so long getting her documents together that divorce judge has ordered us to go through divorce first.

    Here is my updated question-with a bit of updated info.

    Let's suppose that the divorcing party had planned to file joint bankruptcy prior to divorce. However the process was taking too long, and the divorce court judge ordered divorce to go forward.
    Male subject (me) will be ordered to pay alimony-no problem-not dischargeable-won't even try. However there is about $45,000 CC debt with about 50% joint and 25% each individual debt. Assuming judge orders each to pay their own debts and splits the other 50%. I would like to file bk-chapter 7 for all my debt, but do not want to harm ex-spouse.

    Do you have any suggestions as the best way to accomplish this? Perhaps getting the decree written in a certain way? (Divorce should be final mid-Jan.)(We are in CT)

    Another issue is we will need to sell the marital home. There is currently approx $50,000-$60,000 in equity-but 5 months in arrears. Can we sell home-split the profits as judge will likely order, and still be able to file bankruptcy for CC debt, and use the equity for each of us to start our new lives?

    Thanks

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