Bankruptcy and divorce

Bankruptcy and how it may relate to divorce. Should you file bankruptcy before divorcing or after a divorce is final? That is a common question. Unfortunately it cannot be answered without knowing a person's specific situation. Please call us to schedule a free consultation to discuss your situation to determine what is best for you.

Some important considerations include where do you each live, do you have joint bank accounts, whether you have children, is the child or are the children minor in age. Other questions are not as jurisdictional, and are regarding property. Considerations should be made for real estate, land, retirement accounts, bank accounts, vehicles, and other assets.

In addition, the income and expenses are important too. Is the income being shared in any way, are the expenses being shared? Finally, what about the debts, who are they for? Joint? Cosigned?

Again, those questions above prove you would need to meet a bankruptcy lawyer, because they are so specific to you.

Rashid Law Firm, 10222 Gulf Freeway, Houston, TX 77034. We are here to help.