About Divorce & Bankruptcy

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How to Pay Credit Card Bills Without Filing Bankruptcy....5

Because of reform in the bankruptcy laws, filling for bankruptcy due to a divorce, in order to get out of paying alimony or for the divorce, is no longer allowed. Learn about the credit situation that must be present in order to file for bankruptcy with information from a family lawyer in this free video on bankruptcy.

Part of the Video Series: Bankruptcy Questions
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Video Transcript

You recently received papers in the mail that your spouse is filing for divorce against you. And to make matters worse with the declining economy you have found that each month more and more difficult to pay your debts to the point where now you are not paying your debts. So you are considering filing a response to the divorce action and possibly filing bankruptcy. You don't know which way to go. Hello I'm Robert Todd and I'm here to answer the question what considerations do you have with respect to divorce and bankruptcy. Well before the bankruptcy reform act that was enacted in two thousand four, there was some way of discharging debts arising out of a dissolution of marriage or divorce. Which was thought to be somewhat of a loophole. The amendments to the bankruptcy act have closed that loophole, if you will, and today those obligations that arise for the most part out of a dissolution of marriage are not dischargeable. So the question is more whether you have a credit situation that dictates filing bankruptcy regardless of whether you're going through a divorce. I'm Robert Todd and thank you for watching.

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