Bankruptcy and Divorce In Orlando
One of the unexpected consequences of many divorces is the financial hardship that can arise for one or both of the spouses once they are on their own. In some cases, there is enough money between the two spouses to fund one household but not two. This can be especially true in cases where one spouse is ordered to pay alimony and child support.
At the Orlando, Florida based law firm of McMichen, Cinami & Demps, we have seen many cases where the debt load is so overwhelming that filing for bankruptcy is the only option. A bankruptcy filing by either spouse after divorce has the potential to significantly impact both parties. When you hire our firm, we can help to protect your interests through careful planning and a well-executed divorce agreement.
Orlando Bankruptcy and Divorce Attorneys
Our attorneys have substantial experience in all areas of family law. We have seen firsthand what can happen when one spouse is assigned an unmanageable level of debt. For example, if one spouse takes on too much debt in the property division agreement and has to file bankruptcy. We can work to minimize your risk by drafting the divorce agreement in a way that benefits you.
Many clients mistakenly believe that filing for bankruptcy will wipe out any alimony and child support obligations. The truth is that no court ordered support payments can be eliminated through a bankruptcy filing. If you are the paying spouse, your best option may be to seek a modification to the divorce agreement.
Schedule an Initial Consultation
Contact our office to discuss your family law questions with a lawyer. We will give you an honest assessment of the legal issues involved in your case and let you know what we can do to help. You can reach us by phone at 407-898-2161 or via e-mail.