Divorce Related Bankruptcy

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Causes of Sacramento Bankruptcy: Divorce

 

Of the many causes for Sacramento bankruptcy, divorce has to be the most painful.  We handle bankruptcy and debt settlement for many individuals and families in the Sacramento and Riverside areas.  Most of the time we see people who have lost everything to layoffs and long-term unemployment, which are strong indicators of an economy gone sour.  Another indicator of a bad economy is a climbing rate of divorce, and, unfortunately, we are seeing that, too.  Many times, the costs of a divorce (attorney fees, lack of dual income, etc) will position someone for financial failure to the point where debt settlement and negotiation are no longer options.

 

 

When it comes to Sacramento Bankruptcy, Divorce Takes a Harder Toll

 

No one ever wants to file for bankruptcy.  No one.  Bankruptcy can be a “new beginning”, but for many–at least prior to the court appearance–it feels like an ending.  It feels like “loss”.  When a divorce is a cause or contributor, this is especially the case.  The client feels as though he has lost everything of value to him or her.  We understand this and try our best to provide not only legal and financial counseling, but also patience and understanding along the way.  We want our clients to see that for every shut door there is an open window.  For every ending there is a new beginning.  There is always a chance, if you seize it, to take those lessons learned from the old life and impart them on the new journey that you are about to take.  Again, if you seize that opportunity–that choice is up to you.  Just like filing bankruptcy is up to you.

When you are drowning in debt, for whatever reason, it is very difficult to get out from under it without assistance.  Debt can cause the type of stress in a person’s life that makes it highly unlikely that he or she will have the wherewithal to make the types of decisions necessary to improve the situation.  Add to this the pain of divorce and all the loss associated with it, and bankruptcy suddenly becomes a feasible option.

 

What You Should Know About Divorce-Related Bankruptcy

 

With your filing of bankruptcy in Sacramento, divorce orders in regards to child support and alimony may not be put aside.  You will be asked to continue child support payments in the same amount and frequency as original orders.  This is, of course, only fair.  Many people would purposefully (and unnecessarily) declare bankruptcy to avoid child support payments.  In fact, before the 1990’s change in child support legislation people would simply avoid working to avoid making payments on child support.  This will not be the case in any divorce-related bankruptcy filing.

 

If, however, you find that you are legitimately unable to make payments on secured and unsecured debts due to costs related to your divorce, contact us at once to assist in your bankruptcy (Sacramento) divorce.

 

 

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