William H. Oliver, Jr. & Associates
Call today for a free consultation
Local 732-988-1500

Blog

Considerations when going through a divorce and bankruptcy

Many law firms in New Jersey will tend to focus on specific areas of the law. At William H. Oliver & Associates, our focus is on bankruptcy law, along with foreclosure law and the law as it relates to consumer debts like credit cards.

Other law firms may concentrate more on an area like family law. But often we see different areas of the law intersect with one another, and when it comes to divorcing couples who are contemplating bankruptcy this is one such area where different legal disciplines can come together.

If you have been divorced, or know someone who has, then you likely know how going through a divorce can be almost as difficult financially as it is emotionally. The longer a married couple has been together, and the more their finances have commingled, the more complicated and sometimes contentious it can become to separate them.

Add the prospect of personal bankruptcy to the separation process, and matters can become even more complex. Bankruptcy laws and rules introduce a number of tactical and strategic considerations to divorce, including:

  • Timing: does it make a difference filing for bankruptcy before or after a divorce?
  • Going through bankruptcy alone, or together: is it advantageous for one spouse to file by his or herself, or should the couple file together?
  • Asset distribution: How will a bankruptcy affect the division of marital assets? Does it make a difference if you use Chapter 7 or Chapter 13?
  • Multiple courts: bankruptcy law is the realm of a separate court from family law. How do the two courts work together? What conflicts might arise between them?

The issues above are just some of the things that should be taken into account when you are thinking about a combination divorce and bankruptcy. We can help you to look at all of the bankruptcy-related questions relevant to your specific circumstances if you are also going through a divorce, and to help you to choose the course of action that is best for you.

No Comments

Leave a comment
Comment Information

Get A Free Lawyer Consultation

With offices in Toms River and Neptune, attorney William H. Oliver is ready to answer your questions and help you find the right debt relief solution. Evening and Saturday appointments are available. Call local: 732-988-1500 or fill out our contact form.

Email Us For a Response

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Toms River Office
609 Main Street
Toms River, NJ 08753

Fax: 732-775-7404
Toms River Law Office Map

Neptune Office
2240 State Route 33
Neptune, NJ 07753

Phone: 732-341-1550
Fax: 732-775-7404
Neptune Law Office Map

visa, master card, american express, discover network