Can you file for bankrupty and a divorce at the same time if you have no assets together?
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Can you file for bankrupty and a divorce at the same time if you have no assets together?
Asked on January 15, 2015 under Bankruptcy Law, Missouri
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 9 years ago | Contributor
In general, it is best to wait until one matter is concluded before filing the other. The reason is that when you file for bankruptcy, virtually all property becomes property of the bankruptcy estate. If you are in the midst of a divorce, the family court can’t divide and distribute your assets until the bankruptcy is concluded. Consequently, filing for bankruptcy during an ongoing divorce can unnecessarilydrag it out. However, if you have no joint assets, you will not have such problems. That having been said, unresolved alimony or child support issues, if any, can lead to delays in the processing of your bankruptcy case.
At this time, you might want to consult directly with an attorney as to your best course of action.
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