Bankruptcy and Divorce: Which Comes First? File for Bankruptcy First. If you and your spouse are on good terms,
then consider a bankruptcy before the divorce. By filing jointly, all debts will be addressed
under one bankruptcy case. You can wipe out your joint debts together
and may also be able to increase your exemption amounts. This is also helpful if one spouse makes all
the money because it will increase the chance of qualifying for a Chapter 7 for that spouse. Bankruptcy will also eliminate contracts that
neither one of you wants, like car loans that cost too much or mortgages on houses that
are completely underwater. If you qualify for a Chapter 7 bankruptcy,
then you should finish in about 90 days. Therefore, you and your spouse can eliminate
unsecured debt which takes away the fight over debt. Call me for a free consultation at (215) 551
7109. Please visit our website for more information
at www.thephiladelphiabankruptcyattorney.com.