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Bankruptcy & Divorce

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How Are Alimony Payments Affected by Bankruptcy?

What is bankruptcy? Bankruptcy can put a person in a huge financial predicament and occurs when that person has not been spending his money wisely and his expenditure has exceeded his income. Bankruptcy disallows the person from making necessary or important payments, paying off creditors, getting loans from banks and has a lot of other negative impacts on a person’s financial situation. If a couple is undergoing a divorce and one spouse is required to make alimony payments to the other spouse and that spouse has filed for bankruptcy, then it can be very difficult for him or her to…

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Are Credit Ratings Affected by Divorce?

Just how much can a divorce affect credit ratings? To most people that haven’t gone through a divorce it doesn’t make much of difference. To them the ads here and there that offer financing help to people who have lost their jobs, had no credit history or have gone through a divorce are wastes of time. Quite simply put, who can think that a divorce is as bad as having lost your job?  Well, you only get an idea of how bad a divorce is one you have gone through it yourself. Lack of Money in Real Life Once you…

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Bankruptcy and The Effect on Child and Spousal Support

One of the areas of law that has been in the spotlight in recent times is the effect of bankruptcy on the payments of child and spousal support. A large number of people have started to file for bankruptcy in that a declaration of bankruptcy can bring an automatic end to the payment of child and spousal support. This area of law is one that continues to require further elaborations. This blog provides you with details on this aspect of law with respect to bankruptcy and spousal supports and child supports. The Bankruptcy Code attempts to protect the rights of…

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