Bankruptcy and Divorce

Colorado Bankruptcy for Divorcing Couples

El Paso and the Surrounding Counties and Military Installations

Financial problems are the root of many divorces, and the financial aftermath of divorce is the root of many bankruptcies. If you are considering filing for divorce and filing for bankruptcy, it is crucial to get solid legal advice early in the process. Should you file before divorce, or after? The wrong moves could make you ineligible for bankruptcy, cost you thousands of dollars, or cause credit problems down the road.

John Turner, Attorney at Law in Colorado Springs

I do not handle your divorce — it is not my field of expertise. By the same token, your divorce lawyer may not be qualified to handle your bankruptcy correctly. The timing of the two proceedings can be very important, and the complex issues of division of property and division of marital debt can have a significant impact on (a) your ability to qualify for bankruptcy, (b) the debts you can discharge, and (c) the assets you can keep.

I am John Turner, an El Paso County lawyer with over 20 years of experience in bankruptcy law. I have helped many men and women in the greater Colorado Springs area file for personal bankruptcy in relation to a divorce. Call me for a free consultation at 719-632-2022.

Bankruptcy and Divorce

I would estimate that divorce is the cause of one-third of all bankruptcies that I see. For people already deep in debt, the increased expenses of maintaining a separate household, perhaps with child support and/or spousal support obligations, become an insurmountable burden.

• If you have not yet filed for divorce and you are carrying major debt, are you willing to file the bankruptcy together and then get a divorce? There can be significant advantages to both of you.
• However, your combined incomes may prevent you from qualifying for a joint Chapter 7 bankruptcy. One solution may be to file separately for bankruptcy so that each of you can qualify for Chapter 7. I can explain the pros and cons, as well as the option of filing jointly for Chapter 13 reorganization.
• If you are already divorced, or dissolution proceedings have begun, I can advise you of important considerations.

Solid Advice on Bankruptcy and Divorce: 719-632-2022

I will sit down with you to explore all the complex issues and scenarios. I give straightforward advice and I am always accessible to respond to questions throughout the process. Arrange your free consultation today.

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