When Is The Best Time To File?

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My wife and I are separated when is the best time to file? Should we do it before or after the divorce?

Yeah, you can almost make your own entire category of bankruptcies just around that situation. It really is. You know one of the nice things that comes out of this you know not so nice question is the number of people that come in originally looking to hire a bankruptcy and a divorce attorney and by the time it’s all over and they just needed the bankruptcy attorney it’s amazing how much more nice, how much more pleasant that marriage is when everybody is not stressed about the finances all the time or having unpleasant conversation around the dinner table every night. It does happen where it’s taken its toll and people have decided already that they are going to go their separate ways.

You know, I’ve always kind of favored filing the bankruptcy prior to the divorce and there’s a couple reasons for it. you know in adivorce you are allocating who gets what assets and who gets what debts. Well if you both just file the bankruptcy just eliminated half of that equation so you’ve made about half the work in the divorce that needs to be done, done and so if you are hiring a attorneys on that, that should cut your cost right there and at least make a little bit more amicable than it might have been if you are trying to figure out who is taking chunk of the $20,000 or $30,000 credit card debt.

The other real kind of good reason to do it together if you can is that I can’t you know speak for other firms but we don’t have any price difference really because it doesn’t make a great deal of differences as far as time it takes us to do a bankruptcy whether somebody is filing individually or jointly. It’s just, you know, based on the work it takes to produce and then prosecute that bankruptcy. So, if the husband and the wife are going to file separately, they are going to end up paying two separate fees for two separate bankruptcies. Whereas if they can just do it together they can pay one fee, file jointly because they are still legally married, and have it taken care of that way. So I don’t know, just for the cost saving maybe I’m little frugal but you know as long as everybody can get along well enough to get the documents together and, you know, be in the room for few minutes together I’ve always come down on the side that it’s much better to do it together if you can.

To continue reading the answer, see the text below or jump to another question using the links below:

  1. How Do You Know If You Qualify For A Bankruptcy?
  2. What Is Unsecured Debt?
  3. What Is The Process Of Bankruptcy Like?
  4. Can A Chapter 13 Be Converted To A Chapter 7?
  5. What Is the Process Of Bankruptcy Like – Part 2
  6. When Is The Best Time To File?
  7. How Can I Rebuild Credit After A Chapter 13?
  8. Can A Chapter 13 Be Amended?
  9. Can Filing Bankruptcy Prevent An Increase In Out Of Court Settlement?
  10. Is There Any Way To File Bankruptcy And Keep My Car Or My House?
  11. Will People From The Bankruptcy Court Send Someone To My House To Look At My Stuff?


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