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Columbus, OH 614-360-2942
Huntington, WV 304-519-4354
New Albany, OH

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Filing your Chapter 13 bankruptcy plan

Are you facing the prospect of going bankrupt in Ohio? The key to successfully handling your debts will be creating an alternate plan under Chapter 13. How can filing under Chapter 13 help you? Filing for bankruptcy under the terms of Chapter 13 can be advantageous in...

Crucial defense strategies to fight an assault charge

An assault charge has come your way after a regrettable holiday incident. This is a violent crime, and you can expect some serious repercussions tied to the charge and potential conviction. Possible penalties: jail, probation, fines, restitution and community service....

Rental property during probate in Ohio

The probate process in Ohio can be challenging to navigate even when dealing with simple matters. Things can become even more complex if it involves a rental property. Here's what you need to know about dealing with rental property in probate. Title of the property...

How to handle insurance companies after an accident in Ohio

Whether or not you should interact with the other driver's insurance company in the aftermath of a car crash in Ohio depends on a variety of factors in your unique case. The most important thing to do is talk to your own provider first. But for certain types of...

What to know about Ohio’s bankruptcy exemptions

It’s a difficult decision to decide to declare for bankruptcy. The stigma attached to bankruptcy, and the fear of losing everything, might discourage you from taking advantage of it to achieve fiscal freedom from overwhelming debts. Fortunately, the law has provisions...

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Bankruptcy and divorce: the interplay

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Divorce and bankruptcy are inextricably linked for many couples.

Studies have repeatedly shown that arguments about finances are consistently a major contributing factor to divorce actions. Likewise, when a couple is dealing with seemingly insurmountable debt to the point where arguments regularly ensue, it is often wise to consider filing for bankruptcy. If you are considering both ending your marriage and filing for bankruptcy, you likely have many questions. Chief among these may be: “which should I file first?” The answer, like so many other things in the legal arena, isn’t exactly cut and dry. It actually is highly dependent upon your unique circumstances, your state’s divorce laws, available bankruptcy exemptions and other factors.

How divorce and bankruptcy intertwine

For many couples, divorce and bankruptcy go hand in hand. Either a divorce leads to bankruptcy, or the need for bankruptcy (and the ensuing stress, disagreements, tension, anxiety, etc.) – particularly if a couple tried to avoid the inevitable and struggled against the tide of debt in vain for months or years – leads to divorce.

In some ways, it’s a “which came first, the chicken or the egg?” kind of situation. Some make it through divorce – particularly if the divorce was highly contested and required protracted litigation – only to realize that the financial upheaval of establishing two households, making child support or alimony payments, paying off marital debts, trying to make the mortgage payment on the marital home without the financial assistance of a spouse, tax consequences and other related expenses have driven them to need bankruptcy protection to stop creditor harassment and escape unmanageable debt.

Others realize prior to filing for divorce that bankruptcy is going to be their best option, without even taking into account additional financial stressors that will resort from the divorce itself. This may be the result of unemployment, overwhelming medical debt due to an unexpected illness, trying to prevent foreclosure, dealing with the impact of a failed business (something all-too-common in recent years as our country has struggled to recover from the devastating recession that affected the global economy) or other causes.

Which first – divorce or bankruptcy?

If divorce hasn’t been the impetus for a bankruptcy filing, then there could be questions about the pros and cons of which complicated legal issue should be tackled first. Unfortunately, there is no “cookie cutter” answer. For some, it is advantageous for a couple to go through a joint bankruptcy filing prior to divorce in order to maximize the number and type of bankruptcy exemptions available and to get the best possible debt discharge for a wide range of marital debts. For others, going through divorce prior to filing for individual bankruptcy relief is the best possible solution.

Only you – and your experienced attorney – can decide which option is right for you. When you are contemplating both divorce and bankruptcy, having a lawyer at your side with in-depth knowledge of both family law and the bankruptcy process can be invaluable, and can give you confidence that you are taking the right steps to protect yourself. To learn more about the intersection of bankruptcy and divorce, contact Amy M. Levine and Associates. From offices in Columbus and Huntington, the firm helps clients throughout Ohio and West Virginia; contact them today.

Keywords: Bankruptcy, divorce, debt, creditor harassment

Amy M. Levine
View Profile

Our Latest Blog Posts

Filing your Chapter 13 bankruptcy plan

Are you facing the prospect of going bankrupt in Ohio? The key to successfully handling your debts will be creating an alternate plan under Chapter 13. How can filing under Chapter 13 help you? Filing for bankruptcy under the terms of Chapter 13 can be advantageous in...

Crucial defense strategies to fight an assault charge

An assault charge has come your way after a regrettable holiday incident. This is a violent crime, and you can expect some serious repercussions tied to the charge and potential conviction. Possible penalties: jail, probation, fines, restitution and community service....

Rental property during probate in Ohio

The probate process in Ohio can be challenging to navigate even when dealing with simple matters. Things can become even more complex if it involves a rental property. Here's what you need to know about dealing with rental property in probate. Title of the property...

How to handle insurance companies after an accident in Ohio

Whether or not you should interact with the other driver's insurance company in the aftermath of a car crash in Ohio depends on a variety of factors in your unique case. The most important thing to do is talk to your own provider first. But for certain types of...

What to know about Ohio’s bankruptcy exemptions

It’s a difficult decision to decide to declare for bankruptcy. The stigma attached to bankruptcy, and the fear of losing everything, might discourage you from taking advantage of it to achieve fiscal freedom from overwhelming debts. Fortunately, the law has provisions...

Visit Our Blog

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