Cleveland Divorce or Separation Debt Relief Lawyers
Tennessee Chapter 7 Bankruptcy Attorneys
Going through a divorce or getting separated can be extremely stressful. Many things need to be taken into consideration, including property division, child support and spousal support. These major financial issues often take the spotlight off of something that is very important to consider: the transition from a two-income household to a single-income household.
If you are getting divorced or separated, and there is a significant amount of debt that will need to be dealt with, you may want to discuss your situation with a bankruptcy lawyer prior to finalizing the process. If you have already finalized the process and you find yourself overwhelmed with debt, we can help you too. At the law firm of Richard Banks & Associates, we can review your options and help you get on firm financial ground.
Since 1974, we have been providing debt relief services to people throughout Tennessee and North Georgia. Our lawyers help people stop foreclosure, repossession, wage garnishment and creditor harassment.
Bankruptcy and Divorce or Separation
Property division is extremely complex and may be addressed differently in every case. One spouse may get the car, but both may remain liable for the debt associated with it. If the spouse with the car sells it and pays off his or her portion of the debt, the other spouse may still be liable for the remaining portion of the debt. Issues like these are easily prevented with a carefully planned Chapter 7 bankruptcy.
Newly divorced or separated people may find their debt piling up fast. In the process of trying to pay off all of their creditors, they may fall behind in child support. By filing Chapter 13 bankruptcy, past-due child support payments can be included in a payment plan. We will help you determine which type of bankruptcy is right for you based on your situation.