Bankruptcy & Divorce

Bankruptcy and Divorce: Securing Your Financial Future

Nardi & Nardi, P.A. can Help You Protect Your Financial Interests in a Divorce

One of the most common reasons that people file for bankruptcy is that a divorce has seriously impacted their financial picture. Similarly, money problems, stress about debt and arguments about finances can also result in divorce. Dividing household income, marital debts, assets and the sudden doubling of housing expenses can leave both parties unable to recover. In addition to mortgage payments, the costs of child-rearing, and the division of debt, both parties may suffer from expensive court costs and attorneys' fees arising from a divorce.

If you are facing overwhelming debt after a divorce, it is important to know that there are debt relief solutions. At Nardi & Nardi, P.A., we understand the overwhelming costs of divorce and help our clients achieve financial independence. We do this by exploring debt relief options like Chapter 7 or Chapter 13 bankruptcy as well as seeking debt consolidation, loan modifications or the assistance of credit repair companies.

Protect your rights, your family, and your future. Call now at (407) 478-0074 or contact us by email for experienced legal advocacy you can trust.

Filing Bankruptcy Before Divorce

Divorce is actually less complicated after a bankruptcy. Before filing, debt totals must be established, there must be a division of assets and asset/property must be divided. If you file bankruptcy before a divorce, you and your spouse could potentially mitigate significant court costs and the expenses of valuating property or debts afterward. Property division issues are easier to resolve after bankruptcy is filed.

If You are Considering Bankruptcy After Divorce

Chapter 7 bankruptcy: After a divorce, you may find yourself without a home or significant assets. You may also be overwhelmed by unsecured debt, including credit cards. In this case, Chapter 7 bankruptcy may be the appropriate option for you. Our attorneys will review your income, debts and assets to determine if you qualify for Chapter 7. We will explore all of your options, including alternatives to bankruptcy so that you can make the best decision for your family and your future.

Chapter 13 bankruptcy: If you still have a significant income, want to protect your home, or do not qualify for Chapter 7 liquidation bankruptcy, Chapter 13 may be a viable option for you and your family. Chapter 13 allows you to restructure or reorganize your debts. In the end, you can reduce interest, fees and the principal of your debts. Our attorneys will help you assess your current situation to determine if bankruptcy is right for you.

Call (407) 478-0074 today to speak directly with an experienced Orlando, Florida, lawyer or contact us by email if you have a question about your case.

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