{"id":1751,"date":"2011-07-27T04:56:17","date_gmt":"2011-07-27T11:56:17","guid":{"rendered":"http:\/\/www.johntnicholson.com\/ohiolawblog\/?p=766"},"modified":"2011-07-27T04:56:17","modified_gmt":"2011-07-27T11:56:17","slug":"bankruptcy-divorce-which-first","status":"publish","type":"post","link":"http:\/\/henryclarke.co\/law-office\/bankruptcy-divorce-which-first\/","title":{"rendered":"Bankruptcy &#038; Divorce, which first?"},"content":{"rendered":"<p><strong>Bankruptcy and Divorce<\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-767\" style=\"margin: 4px;\" title=\"bankruptcy_money_argue\" src=\"http:\/\/daytonohiodisability.com\/wp-content\/uploads\/2011\/07\/bankruptcy_money_argue.jpg\" alt=\"\" width=\"300\" height=\"214\" \/>Lets take the following hypothetical situation:<\/p>\n<p>Ryan and Lauren are married but soon to be divorced.\u00a0 Ryan is planning on moving from the marital residence in Miamisburg, Ohio, to Tennessee with his new girlfriend Jennifer.\u00a0 Lauren has already moved to Kettering, Ohio.\u00a0 <strong>Can they file a joint bankruptcy together in Dayton?\u00a0 Would it be better to wait and file their bankruptcy after the divorce is final?<\/strong><\/p>\n<p>Divorces breed bankruptcies.\u00a0 During the marriage there was one household with one set of expenses.\u00a0 Once one spouse moves out, there become two households and two sets of expenses, and divorce litigation can be very costly.\u00a0 Filing bankruptcy is often the only solution for people getting divorced.\u00a0 <strong>But how does separation and divorce affect a Chapter 7 bankruptcy or a Chapter 13 bankruptcy?<\/strong><\/p>\n<p>Ryan and Lauren can file a joint petition at any time during their marriage, even if they are maintaining separate residences.\u00a0 Filing joint bankruptcy is cheaper because saves the additional filing fee.\u00a0 However, most bankruptcy attorneys will not advise filing a Chapter 13 bankruptcy in anticipation of a divorce.\u00a0 Chapter 13 bankruptcies require that the debtors make monthly payments for 36 or 60 months.\u00a0 This is impractical to do if the individuals involved will no longer be married.<\/p>\n<p>The timing of the two separate cases in Ohio is also important.\u00a0 Filing either a Chapter 7 bankruptcy or a Chapter 13 bankruptcy will stall any existing divorce proceedings.\u00a0 The bankruptcy court issues what is called an Automatic Stay at the beginning of the bankruptcy that prohibits anyone from taking action on any debts.\u00a0 Therefore, the divorce court cannot divide the debts of the spouses until the divorce case is final or a Relief From Stay is obtained from the bankruptcy court.\u00a0 It is often considered preferable to file the joint Chapter 7 bankruptcy a couple of weeks before filing the divorce case, as the Chapter 7 bankruptcy does not generally take as long as a contested divorce.<\/p>\n<p>A skilled bankruptcy attorney will be able to answer all of your questions about filing bankruptcy in the context of a divorce or separation.\u00a0 Many Dayton-Springfield area attorneys offer free bankruptcy consultation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bankruptcy and Divorce Lets take the following hypothetical situation: Ryan and Lauren are married but soon to be divorced.\u00a0 Ryan is planning on moving from the marital residence in Miamisburg, Ohio, to Tennessee with his new girlfriend Jennifer.\u00a0 Lauren has already moved to Kettering, Ohio.\u00a0 Can they file a joint bankruptcy together in Dayton?\u00a0 Would [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14,17],"tags":[75,370],"class_list":["post-1751","post","type-post","status-publish","format-standard","hentry","category-bankruptcy-2","category-dayton-ohio-dissolution-divorce","tag-bankruptcy-and-divoorce","tag-miamisburg-bankruptcy"],"aioseo_notices":[],"_links":{"self":[{"href":"http:\/\/henryclarke.co\/law-office\/wp-json\/wp\/v2\/posts\/1751","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/henryclarke.co\/law-office\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/henryclarke.co\/law-office\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/henryclarke.co\/law-office\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/henryclarke.co\/law-office\/wp-json\/wp\/v2\/comments?post=1751"}],"version-history":[{"count":0,"href":"http:\/\/henryclarke.co\/law-office\/wp-json\/wp\/v2\/posts\/1751\/revisions"}],"wp:attachment":[{"href":"http:\/\/henryclarke.co\/law-office\/wp-json\/wp\/v2\/media?parent=1751"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/henryclarke.co\/law-office\/wp-json\/wp\/v2\/categories?post=1751"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/henryclarke.co\/law-office\/wp-json\/wp\/v2\/tags?post=1751"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}