Bankruptcy And Divorce in Indiana
Financial problems are often a contributing factor in divorce. They can also arise after the divorce when a divorced person must support a household on one income rather than two.
At Trapp Law, LLC, our Indianapolis family law lawyers have solutions for people who are dealing with financial problems caused by unmanageable debts. If you intend to get a divorce, we can represent you during the process, to protect your rights and prevent you from getting saddled with an unfair portion of marital debts. We also provide debt relief solutions through Chapter 7 and Chapter 13 bankruptcy proceedings.
If you have debts that are out of control, contact us today. Indianapolis divorce attorney Angela Trapp can review your case and discuss possible solutions with you.
Marion County Attorney For Debt Division In Divorce
In Indiana, marital assets and debts must be divided during the divorce process on an equitable basis, not necessarily on an equal basis. If a marital asset has encumbrances (such as a mortgage on a home or loan on a car), you could be stuck with the responsibility for the debt, even if that asset is transferred to your spouse as part of the divorce settlement.
Angela Trapp is a lawyer with extensive experience negotiating property division settlements during the divorce. In your case, Ms. Trapp will take appropriate measures to protect you from getting burdened with an unfair division of marital debts.
Should You File Bankruptcy Before Or After You Divorce?
A Chapter 7 or Chapter 13 bankruptcy can provide you with debt relief and a fresh start. However, the timing of bankruptcy is an important consideration. In some cases, it can make sense for a couple to file joint bankruptcy before divorcing. In others, you may be better off divorcing first and then filing bankruptcy. As a family law attorney who also practices bankruptcy law, Angela Trapp can advise you and take the necessary steps to help you get debt relief.
Free Consultation — Contact Trapp Law, LLC
For a free consultation with an experienced divorce attorney, contact Trapp Law, LLC.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.