Bankruptcy Strategies in Divorce

The filing of a bankruptcy by one spouse in a divorce is not always a cooperative process, part of an overall strategy. Sometimes the nonfiling spouse can become vindictive and seek to disrupt the bankruptcy filing. In this episode, Meryl and Steve talk about how important it is to keep the financial disclosures in your[...]

The automatic stay that bankruptcy provides can be extremely helpful in protecting you from creditors. It can stop a bank levy, a wage execution, or any other attempt to collect a debt. But exceptions in the bankruptcy code can allow your spouse or ex-spouse from taking many actions in family court without bankruptcy court permission.[...]

In most cases, financial difficulties put strain on a marriage that leads to divorce. In those circumstances, bankruptcy can be helpful. But in this episode, Meryl and Steve talk about how financially secure couples can end up in bankruptcy because of how they handle their divorce! Learn how to avoid these mistakes!

Prenuptial Agreements are often used to negotiate many terms of a divorce in advance of the marriage itself. However, they cannot definitively allow you to preplan a bankruptcy discharge of your obligations under it. In this episode, Meryl and Steve talk about why these agreements cannot be worded in such a way as to create[...]

You may have agreed upon (or had a judge order) the equitable distribution of your marital assets in your New Jersey divorce. But the chapter 7 bankruptcy filing of one of you can put that distribution into jeopardy. In this episode, Meryl and Steve talk about how to approach this problem!

Even after a divorce is final, its effects can linger on.  One spouse or the other can be obligated to pay alimony and/or child support, along with maintaining life insurance to protect that stream of income.  But what can happen when one spouse files bankruptcy and reveals a higher income than that used to calculate[...]

One common provision in New Jersey divorce decrees is for the educational expenses of the children.  In other words, who pays for what in connection with the kids going to college?  Filing bankruptcy at any point in this process, whether it is to deal with marital debt or debt incurred after the divorce can cause[...]

A bankruptcy can certainly help you in your divorce if you are weighed down with marital debt.  A chapter 13 can also help save a home from foreclosure or get a tax debt paid affordably.  But one thing that can really devastate a chapter 13 repayment plan is an unexpected divorce filing.  Meryl and Steve[...]

Bankruptcy can often be a useful tool in simplifying your divorce by getting rid of marital debt.  However, when a creditor has a lien against a marital asset that is subject to equitable distribution, this can still be a problem.  In this episode, Meryl and Steve talk about the pitfalls and how to avoid them.

A Chapter 13 bankruptcy repayment plan can help someone get current if they are behind on alimony and child support.  But what if you are the payee spouse?  How can you protect your rights?  Fortunately, there are several provisions in the bankruptcy code that protect the payee spouse.  Steve and Meryl talk about what a[...]