Financial Stress and Divorce
Financial stress and divorce are linked together quite often. Financial disagreement is a leading cause of divorce, and conversely, divorce can be a tremendous financial stress for those involved.
If you are facing both financial problems and the prospect of a divorce, contact us. The Indiana bankruptcy attorneys of Walton Legal Services have a wealth of experience handling bankruptcy and debt relief, as well as uncontested divorce matters. We work with each client to find the most streamlined debt-relief solution.
Walton Legal Services: More than 30 years | More than 30,000 bankruptcies filed
One major problem with bankruptcy and divorce that many people don't realize is the fact that divorce splits one household into two households, but in most cases, the income level does not change as a result of a divorce. The same amount of money now has to support both households.
What Happens to Debts After a Divorce?
The terms of a divorce decree only affect the husband and the wife; they do not affect the creditors. If debts are in both spouse's names, the creditors will pursue both parties for satisfaction of the debt, regardless of whether the divorce decree places responsibility for the debt upon only one of the spouses.
In general, we advise divorcing couples that it is better to declare bankruptcy before the divorce is finalized. That way, neither party has to worry about getting harassed by creditors for the other's debt.
We can help you:
- Stop creditor harassment
- Save your home
- Save your car
- File for Chapter 7 bankruptcy
- File for Chapter 13 bankruptcy
If you are looking for an Indianapolis debt-relief lawyer to help you find the road to financial freedom, call one of our Indianapolis law offices, call our Columbus, Indiana, office or contact us online. We offer free initial consultations, and we give you detailed up-front information about our fee arrangements, so there will be no surprises.
