Flahive Law Corporation Explains How Bankruptcy Can Help Couples Filing For Divorce

Oct. 21, 2009 - PRLog -- Many married couples filing for divorce may also benefit by filing for bankruptcy as well.  The joint family assets they own and hope to share in a division of property settlement may have reduced in value. Also, the debts the couple incurred may be much larger than they anticipated. All of this means that Flahive Law Corporation will be extremely valuable as you consider your divorce proceedings.

In a community property state such as California, the debts of a couple will be shared as equally as the assets. Couples with a large amount of debt may want to consider a bankruptcy filing to eliminate the debts before they file for divorce. A Chapter 7 bankruptcy filing can discharge a large unsecured debt amount. A Chapter 13 bankruptcy filing may allow a couple to reduce their debts and save their home from foreclosure. An added benefit of the bankruptcy filing is that collection proceedings are required to end as matter of federal law.

A joint bankruptcy filed before the divorce papers are filed is also less expensive than two separate individual bankruptcy filings. Your family law attorney can help you structure a divorce along with working with Flahive Law Corporation on the best strategy to eliminate your debts.

If you have a question regarding Bankruptcy please contact us at 877-FLAHIVE or visit http://www.FlahiveLawCorporation.com. Flahive Law Corporation has discounted its Chapter 7 bankruptcy services starting at only $995.00. You should call today for a free and confidential attorney consultation.

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Flahive Law Corporation focuses on helping individuals with bankruptcy, IRS tax relief, loan modifications, forensic loan audits, living trusts, wills, corporations, and LLCs. The firm can be contacted at 877-FLAHIVE or http://www.FlahiveLawCorporation.com