Florida Law for Filing for Bankruptcy After a Divorce Is Final
Division of assets and associated divorce costs put many in a bankruptcy situation, even if they thought they were individually solvent. Because bankruptcy is under federal jurisdiction, Florida follows the bankruptcy laws set by the U.S. Bankruptcy Court.
Other People Are Reading
-
Types of Bankruptcy
-
The two types of bankruptcy most likely to be filed after a divorce are chapter 7 and chapter 13. Chapter 7 deals with inability to repay debts and is usually a liquidation; chapter 13 bankruptcy is a debt restructuring.
Bankruptcy After Divorce
-
In Florida, filing for bankruptcy after a divorce is the same as any other bankruptcy. Waiting until a divorce is final is necessary because the assignment of assets and debts will then be settled and you can decide which type of bankruptcy to file. In divorce situations, if your name is on an account, you can be held accountable for the debt. This applies even if the divorce settlement states that your spouse will repay the debt.
-
Legal Considerations
-
According to the U.S. Bankruptcy Court, Middle District Florida, all persons filing for bankruptcy must complete an approved credit counseling briefing in the 180-day period preceding the bankruptcy filing date. Bankruptcy petitions must be filed with the clerk at the U.S. Bankruptcy Court where the divorce was settled. Electronic filing is available on the U.S. Bankruptcy Court website.
-
