No one wants to find out they owe for unexpected marital debts after a divorce is completed. It is important to be informed about a spouse’s bankruptcy filing, especially if you are estranged.
Queens, NY (PRWEB) May 31, 2015
In a May 30, 2015 Divorce Net article discusses the many financial considerations in divorce including debts, accounts, and credit rating. With almost 20 years experience as a divorce and family law attorney, Queens attorney Bruce Feinstein, Esq. has a wealth of experience with one of the most serious financial considerations there is, bankruptcy.
“Married couples have the option to file for bankruptcy jointly to discharge marital debts. However, a married person can also file for bankruptcy as an individual,” says Feinstein. “If a married person files individually and gets a discharge for a marital debt, the other spouse is still tied to that debt. They will be the sole person responsible to pay that debt.”
“No one wants to find out they owe for unexpected marital debts after a divorce is completed. It is important to be informed about a spouse’s bankruptcy filing, especially if you are estranged. If your spouse files for bankruptcy during the marriage, it does not mean you are both off the hook. If your spouse is filing for bankruptcy as an individual you need to find out which debts are being discharged and consider whether or not you should be filing jointly,” warns Feinstein.
The Law Offices of Bruce Feinstein, Esq. has nearly two decades of experience in divorce and family law, helping clients and families resolve their issues and move forward with their lives. Visit feinsteindivorcelaw.com for more information or call (718) 475-6039 to reach the New York office.