Divorce and Bankruptcy

On Behalf of | Nov 22, 2010 | Bankruptcy, Divorce |

Divorce and bankruptcy often go hand in hand with each other.  First, in many marriages there are two income earners and most of the time one earner makes substantially more than the other person.  Sometimes debt is incurred during the marriage, and there is no agreement as to who is required to pay the debt.  Often times, it is credit card debt.  If it is not paid, then both ex-Husband and ex-Wife can be sued to collect the debt.

Many times, financial problems lead to the divorce.  If the man and woman are able to remain married before they file for divorce then they can file together.  That way the debt is gone, and sometimes so are the marital problems.   However, in certain circumstances it is better to get the divorce first.  It is important to contact a law firm that is knowledgeable in both Texas Family Law and Bankruptcy Law before making a quick decision.