Rhode Island bankruptcy and divorce, money is a common sore spot for couples and will many times be one of the contributing factors of a divorce.
It is not surprising that many people filing for a divorce may also be filing for bankruptcy soon after.
For a person to decide how their bankruptcy and divorce should fit together there are a few things to consider.
If the couple is in financial trouble and the debts were incurred together, it may be a wise idea to file a bankruptcy while still married.
This can be a benefit to both people because both people will know exactly which debts they are still responsible for, each person will be relieved of the dept with out worry of the other person trying to force the debt on the person not filing bankruptcy, and because the couple can file together filing one court fee, one lawyer’s fee, and attending one meeting of creditors.
In a divorce and bankruptcy one person may protect some of their assets from being affected by calling it support instead of property when filing the divorce.
Certain items cannot be discharged from a bankruptcy including child support, spousal support, and alimony.
If the divorce has happened years before the bankruptcy is filed it can still affect the ex-spouse.
If for example the ex-spouse has a lien on some property the person filing bankruptcy is claiming on their bankruptcy, the ex-spouse holding the lean will hold the legal right to sell the property to pay for the debt.
Lawyer’s Role In Rhode Island Bankruptcy And Divorce
Very few lawyers deal in both Rhode Island bankruptcy and divorce; many lawyers feel that both Rhode Island bankruptcy and divorce require so much time and expertise that practicing any other field of law at the same time would be a disservice to their clients.
This may be true; Rhode Island divorce and bankruptcy are very different situations and require very different documents, court time, and handling.
For anyone looking to file bankruptcy and divorce in Rhode Island they should plan on hiring two different lawyers.
Rhode Island Bankruptcy and divorce have only one thing in common; a lawyer is helpful in both situations.
In a divorce the lawyer can do most of the talking in a court appearance if necessary, and can collect and fulfill all the necessary documents for their client while in a bankruptcy there are certain points of the process in which the lawyer may not speak for their client and in some cases the client may need to collect many pieces of information concerning their case themselves.