Bankruptcy and Divorce

Proper planning is essential when bankruptcy and divorce proceedings must occur simultaneously or close in time to one another. Many questions must be addressed, including:

  • Should bankruptcy be filed individually or jointly?
  • At what time does it make sense to file for divorce or bankruptcy?
  • Is there a way to reduce my court costs and attorney fees?
  • How does the amount of debt I have affect my decision?

These are just a few of the many considerations that must be addressed before you can determine a plan right for your situation. At Palmer & Manuel, located in Dallas, our lawyers have the experience needed to set you on a path to success. We will carefully review your situation and determine how best to achieve your goals.

Please schedule an initial consultation with our bankruptcy and divorce lawyers today. You may call our office at 214-242-6444 or you may contact our law firm online.

A Key Contributor to Divorce Cases

Family finance issues are one of the key reasons couples seek divorce. As a result, when money troubles are in play, it makes sense that bankruptcy proceedings and divorce proceedings often go hand in hand.

Which Should I File First?

In some situations, it makes sense to file for bankruptcy before divorce. For example:

  • Assets will not be part of the bankruptcy estate at the same time the family court is seeking to divide marital assets
  • Both parties might know that they will file for bankruptcy following divorce, so this gets everything done in one process
  • The parties will be able to discharge certain joint debts
  • You could increase your bankruptcy exemptions by filing jointly

Of course, filing for a joint bankruptcy prior to divorce will not be right for everyone. Our job is to evaluate your specific situation and provide you with the best option given your circumstances.

Contact Our Family Law and Bankruptcy Lawyers

Our lawyers are ready to discuss your situation in a confidential environment. We invite you to learn more about our services by calling today at 214-242-6444 or by contacting our Dallas law firm online.