Free Seminar: How Do Divorce and Bankruptcy Impact Each OtherSeptember 1, 2016
Divorce and Bankruptcy in Pennsylvania
In preparation for an upcoming seminar, the attorneys at Daley Zucker Meilton & Miner, LLC, will do a series of posts to introduce the topic of the interplay between divorce and bankruptcy. The seminar is tentatively scheduled for September 27, 2016, so if you are interested, please check the website for future updates.
Intersection of Divorce and Bankruptcy
The reason for the seminar is to discuss the legal relationship between divorce and bankruptcy. Unfortunately, these areas of the law often intersect. First, financial problems can contribute to household dissent which may result in separation, divorce and also bankruptcy. Additionally, when a divorce is contemplated, property settlements are often complicated by large amounts of unsecured debt that have accumulated during a marriage.
The cost of separation can also put a financial strain on both of the parties. In addition to the costs associated with leaving the marital home, there are also costs associated with the divorce itself, including attorney fees and court costs. This is where bankruptcy can be very helpful. If the parties are amicable, they can agree to work with the bankruptcy attorney during the pendency of their divorce. While the parties are still married, this would permit the filing of just one bankruptcy. Obviously, the bankruptcy lawyer could not advise the parties on divorce and family law matters, but would be very helpful in assisting with the elimination of unsecured debt, and putting the parties in a better position to negotiate an amicable divorce settlement.
For instance, if the unsecured debt is removed from the situation, the parties may have less to fight about in a divorce settlement. This can leave more time and thought for such important things as child custody issues and visitation.
Likewise, even with secured debt, the parties can make arrangements to reschedule debt, look for loan modifications involving mortgages, and assist one party or the other in the surrender of his/her interest in the marital residence to minimize ongoing obligations.
Additionally, bankruptcy is a useful tool for repaying priority claims like taxes. Instead of fighting with tax authorities during the pendency of the divorce, a bankruptcy plan can allow an orderly payment of taxes in a Chapter 13 plan.
Sign Up for Free Seminar on Divorce and Bankruptcy
If you are interested in this topic, or need to consider your options in a divorce and bankruptcy, consider attending this seminar currently scheduled for September 27, 2016 at Daley Zucker Meilton & Miner, LLC, 635 N. 12th Street, Suite 101, Lemoyne, PA 17043, (717) 724-9821.