Bankruptcy and Your Divorce

If you are facing both divorce and bankruptcy in the near future, it is understandable that you may be feeling overwhelmed and unsure of how to proceed. However, the right legal team on your side can help you see your options clearly and make smart financial decisions going forward.

Minnesota's Bankruptcy Law Firm for More Than 40 Years

At the Twin Cities law offices of Prescott Pearson & Tande, PA, our lawyers can help you. We have filed more than 70,000 bankruptcy petitions on behalf of Minnesotans since 1975. We might say that we have "seen it all," including discharging debt through Chapter 7 and Chapter 13 and other related matters. We are well-accustomed to helping clients sort through complicating issues such as divorce that may affect their ability to prepare for bankruptcy in a straightforward way. We are confident that there is a reasonable answer for your situation.

Filing Bankruptcy Before a Divorce Can Save Money and Leave You and Your Spouse With Less to Disagree on in the Divorce

If your spouse understands the value of filing bankruptcy jointly in spite of your faltering marriage, it is usually advisable that you file bankruptcy together before proceeding with divorce. This approach can save time and money for both of you. You will have only one filing fee to pay. You will be able to proceed with your divorce from a clearer financial standpoint.

Did Your Spouse Wantonly Waste Marital Assets by Racking Up Debt? Is He or She Uncooperative?

If your spouse does not agree, does not want to participate or does not cooperate enough for you to file jointly, you may still file bankruptcy individually. In this case, the answer to the question of when you should file bankruptcy may differ from the above scenario. It may be best in your case to let the dust settle from the divorce before filing bankruptcy so that you will know exactly which assets and debts are assigned to you.

You Disagreed About Money in Marriage; You May Well Disagree About Bankruptcy and Divorce

We understand that it may be difficult to impossible to file bankruptcy jointly with your spouse as you approach divorce, even if it appears to be the best solution. Perhaps you argued often during the stronger years of your marriage about money, expenditures and debts. Now that your marriage is on the rocks, the conflicts may prove to be too serious for you to be able to work together on a divorce.

Bring your questions about divorce, bankruptcy and complications involving your joint and separate debts and assets to our attention in a free initial consultation at Prescott Pearson & Tande, PA

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  • Minneapolis-St. Paul Area: 651-968-8096
  • Minnesota Toll Free: 888-366-0827

Are you in the midst of two serious life challenges in St. Paul or Minneapolis? Divorce and bankruptcy? Lawyers at Prescott Pearson & Tande, PA, can explain your debt relief options, including Chapter 7 and Chapter 13. Call or email our bankruptcy lawyers today. Our Minnesota bankruptcy attorneys offer free initial consultations, quality services at competitive rates and effective representation statewide.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.