Tag Archives: marriage

Marriage or Bankruptcy – Which Should Come First?

If you are drowning in debt and planning to get married soon, you should not only discuss your finances with your fiancé, but also with one of our experienced lawyers. We can help you determine the best timing for the filing of your bankruptcy and your marriage.

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When you file a Chapter 7 or Chapter 13 case, you can discharge or eliminate the majority (if not all) of your debt. This includes credit card bills, medical debt, and a wide variety of other types of debt. Thus, filing a case before you get married can help you start your life together with a fresh financial start. It is important to understand that if your credit score is already low due to your delinquent accounts, filing for bankruptcy will probably not have a significant impact on your score.

After you have completed your bankruptcy case and discharged your debt, you can immediately start working to rebuild your credit score. Many of our clients are surprised to learn that with time and hard work, they are able to improve their credit score quicker than they expected.

If you don’t want to enter your marriage with the burden of your debt on your shoulders, contact us to discuss how a Chapter 7 or Chapter 13 can help you. We understand that planning for your wedding day is important, but let us assist you with planning for your financial future and get your marriage off to a solid start!

Contact a Brevard County Bankruptcy Attorney at Faro & Crowder, PA

If you are interested in learning more about how a bankruptcy filing will impact your debt, contact Faro Crowder, PA to schedule an appointment. We are located in Melbourne, Florida on Sarno Road and serve residents and businesses of the Space Coast and Brevard County.

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We provide services throughout Central Florida including: Melbourne, Titusville, Palm Bay, Merritt Island, Cocoa, Cocoa Beach, Satellite Beach, West Melbourne, Cape Canaveral, Viera and Eau Gallie.

Get In Touch with Faro & Crowder, PA

Faro & Crowder, PA
Phone: 321-784-8158
1801 N. Sarno Road, Suite 01
Melbourne, FL 32935

The information on this blog or any blog is not intended as, and should not be taken as, legal advice.

Can Bankruptcy Save Your Marriage?

Studies have shown that arguments over money play a major role in why couples divorce. The stress of not being able to make ends meet can be overwhelming. Even happily married couples begin to feel the strain when a job is lost, medical bills accumulate or other financial troubles occur. Under these circumstances, accusations and blame can lead to fighting that eventually leads to divorce.

If your marriage is feeling the negative affects of financial troubles, you should consider filing bankruptcy. Most married couples hold their debts jointly, which means both spouses are liable to pay them. This includes the mortgage, vehicle loans, credit card bills and a variety of other debts. A bankruptcy lawyer can review your financial situation and help you understand how a Chapter 7 or Chapter 13 can benefit you. Of course, filing a bankruptcy requires you and your spouse to be able to work together to obtain the debt relief you need. Thus, the sooner you seek help, the more likely this will happen.

Filing bankruptcy with your spouse is beneficial in helping you get out from under your debt. Most couples can discharge most, if not all, of their unsecured debt. Additionally, you may be able to decrease the amount of your secured debt. Lastly, by filing together, you will save legal costs by using the same attorney and having only one filing fee.

The above advantages can help save your marriage. Once you have obtained your fresh financial start, your family can move forward without the burden of debt. If you determine divorce is still necessary, the bankruptcy can make it a more streamlined process because the debt to be divided will be minimal.

If your marriage is suffering under the strain of debt, let us help you determine if bankruptcy can benefit your family. We can answer your question when you schedule a free consultation.

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