i have some friends that are divorcing and want to file bankruptcy. They were told they make too much to file. Would it be better to divorce first?
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i have some friends that are divorcing and want to file bankruptcy. They were told they make too much to file. Would it be better to divorce first?
Asked on May 14, 2009 under Bankruptcy Law, Florida
Answers:
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
Your friends need to determine that. That question is based solely on why they are filing for bankruptcy. In terms of whether a divorce should come first or last, they need to sit down with a lawyer to determine why someone saying is they make too much money. There are different types of bankruptcies, and chapter 13 is for those who do have incomes and can pay back monies owed. The issue is whether or not that by divorcing they can hide assets.
If the intent to divorce is less than legal, then bankruptcy approval may be denied. So, the couple's best bet is to consult with a bankruptcy attorney to discuss viable, legal, honest options. Try www.attorneypages.com to locate an attorney and then check the attorney's record at the Florida State Bar.
Further, have them review the following:
https://bankruptcy-law.freeadvice.com/consumer_bankruptcy/
https://bankruptcy-law.freeadvice.com/consumer_bankruptcy/1525/
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