Divorce and Bankruptcy in Maryland
They say that bankruptcy and divorce have one thing in common; it’s a fresh start. Hence, bankruptcy and divorce sometimes go hand-in-hand. But just because you could file for divorce doesn’t mean you need to file for bankruptcy.
Why Hire the Law Firm of James E Crawford Jr. and Associates?
If you are contemplating divorce and trying to figure out how the finances will work, its best to consult with a qualified expert such as one of the lawyers at our law offices. We can sit down with you, go over your finances, and make a determination as to whether or not you can make this work. Many times there is light at the end of the tunnel and you simply don’t realize it. Our job is to help you get there.
What to Consider About Divorce and Bankruptcy
It might make sense to file joint bankruptcy even though you’re getting divorced. In other cases, it may be better to simply wait until the divorce is finalized to file for bankruptcy. Timing is everything.
Here are some key points to remember:
- Credit Card Debt
- Medical Bill Debt
- Past Child Support Due
- Personal Loans
- Car Loans
- Education Costs
- Mortgage Bills
- Everyday Living Expenses
The divorce decree or separation agreement should describe what the debt total is in your situation and be divided. However, that does nothing to protect against the creditors themselves. Only bankruptcy can do that.
We Can Help You Consider Your Options
Divorce and bankruptcy are intricate issues that must be decided very precisely. Each can affect the other. Call us at 443-709-9999 to set up a free consultation so we can discuss the issues in detail. If you are unsure of your future take the first step and get it fixed.