Can you file bankruptcy before, after or while getting a divorce?
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Can you file bankruptcy before, after or while getting a divorce?
Asked on January 14, 2013 under Family Law, Illinois
Answers:
B.H.F., Member, Texas State Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
You can file for bankruptcy at any time. However, before you file, let your bankruptcy attorney know that you are going through a divorce or about to go through divorce. The reason is they may want to suggest holding off on filing bankruptcy if your current assets would hinder you qualifying under what is called the "means test." After the divorce, you'll more than likely have fewer assets-- thus making the bankruptcy easier. Some factors could also affect you in the reverse -- but it will depend on your individual situation. Making sure that your bankruptcy attorney is aware of the divorce and all of the assets and liabilities on the table is the best way to evaluate when you should file.
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