Legal Question in Bankruptcy in California

What order of events for imminent bankruptcy and divorce?

Bankruptcy and divorce are imminent. What considerations should determine the order of events?

The specifics: consumer-type debt exceeds the value of paid-for mobile home and cars. Husband has contract job. Wife has no job. There is one child and one on the way. In addition, there are support payments to another child. Husband and wife recently separated.


Asked on 7/28/01, 8:28 pm

2 Answers from Attorneys
Mark Markus Law Office of Mark J. Markus

Re: What order of events for imminent bankruptcy and divorce?

That question can only be answered after an analysis of all the relevant numbers and figures. It also depends on what property is exempt and how you hope to have it divided through a divorce proceeding. I suggest you set up a consultation with a bankruptcy attorney to go over your situation in detail and discuss your options. You may wish to visit my webpage for more information.

Regards,

Mark

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Answered on 7/30/01, 1:02 pm
Ken Koury Kenneth P. Koury, Esq.

Re: What order of events for imminent bankruptcy and divorce?

Mark is correct but as a general rule I like to do the divorce first if only one party is filing the bankruptcy. Discharging a lot of debt before a divorce can hurt you when the court makes decisions on support payments.. If both parties are going to do a bankruptcy then there are some advantages to doing it before the divorce in some cases depending on which exemptions you are using.

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Answered on 7/30/01, 4:12 pm


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