Marriage is understandably a complex thing given that it touches every aspect of a person’s life. This means that your marriage could experience challenges from a variety of sources. For many couples in California, it is money that becomes a big hurdle to their ability to successfully manage their relationship. In fact, many a divorce has been precipitated in large part due to financial problems.
When your debt load is so excessive that you are considering filing for bankruptcy at the same time that you are considering filing for divorce, you will want to carefully assess the timing of both of these decisions. There may be situations in which it is advantageous for you and your spouse to file a joint bankruptcy and then get divorced. There may also be times when it is better for you to settle your divorce first and then turn your attention to a bankruptcy or other means of addressing your debt.
As explained by My Horizon Today, one of the factors you will want to evaluate at this time is how well you and your spouse may be able to collaborate on a joint bankruptcy. If communication about the process is impossible, you might want to table the bankruptcy until the divorce is completed.
If you would like to learn more about how you and your spouse might navigate the complex situation of a failing marriage and extreme debt, please feel free to visit the bankruptcy during divorce page of our California family law website.