Divorce is one of the three major predictors of bankruptcy filing, along with job loss and illness. Families that might have been making it as a single household are now two households. Debts manageable before are now crushing. Or, families weren’t making it and the stress over money troubles hastens the end of the marriage. […]
Divorce and Bankruptcy: Frequent & Discordant Pairing
I hadn’t hit the steps of my office on the way back from a speaking engagement before the phone rang with a resulting referral. My speech addressed the intersection of bankruptcy and family law. What a fruitful pairing. While my presentation to a bar section of family lawyers was entitled When Worlds Collide, it could […]
Know the Rules of Debt, Divorce & Discharge
Today let’s combine the themes of my last two posts here and talk about the obligation of a spouse to indemnify the other spouse in a divorce from the debts assigned to the spouse. The indemnity obligation is not one most lay people see as a “debt”. It doesn’t involve paying money to the ex, […]
