divorce can place a lot of stress on any person, so once everything is finalized
people finally can experience that breath of fresh air they had been hoping
for . So what happens when after the divorce was finalized, your ex decides
to file for bankruptcy? When going through a divorce, one of the basic
and important steps to cover is the issue of debt. As you and your spouse
are dividing your assets, it is also a good thing to establish who will
be responsible for what after the divorce.
Creditors want their payments, and even if you and your ex no longer have
the same last name, they will fight to get their money. Stating your specific
terms in the actual divorce settlement is essential for having a court
supported document when being attacked by creditors. In the even that
you did not establish these grounds before the divorce, there is a chance
that you may have to file for bankruptcy as well because it is tied to
your name. While bankruptcy may not be the desired route for everyone,
it is a process that will protect you from creditor harassment.
At this point, if the creditors are after you for the debt that he owes,
you are responsible to pay because it wasn’t established in your
original settlement. This is one of the reasons having an experienced
divorce attorney on your side from the get go of the divorce process is
If you are concerned with the debt that your ex has accrued, talk these
things over with the attorney before the settlement, to help see to it
that you are protected from paying unreasonable amounts for someone else’s
debt. There can be no guarantees when it comes to debt and division of
the assets, but by talking over your specific situation with an attorney
will take you down the right direction.
Contact Hutchinson Law today for more information!