Cincinnati Marital Debt Attorneys
If you have significant marital debts and are thinking about getting a divorce, you need sound legal advice. You need to make sure that your jointly held debts do not become solely your responsibility.
At Zingarelli & Lawrence, we are experienced bankruptcy attorneys who work hard to protect our clients' interests regarding marital debts. If bankruptcy is the right solution for you, we can advise you regarding issues of timing and provisions that should be included in your divorce agreement.
Before your divorce attorney enters into settlement negotiations or you decide to file for bankruptcy, talk with Zingarelli & Lawrence. Contact our firm today for a no-obligation consultation about divorce and bankruptcy.
"Hold Harmless" Liability
Many divorce agreements include a hold harmless provision. When a spouse agrees to take on responsibility for marital debts, this provision creates an obligation to the ex-spouse to protect them from the collection efforts of creditors. This provision can lead to your ex- seeking a contempt action against you. In some situations, we can discharge this obligation even if you've already signed the divorce agreement. The exact wording of the hold harmless clause is very significant. If you have already taken on a marital debt, we can explain the implications of this as it relates to your legal responsibilities and your bankruptcy options.
Should You File Bankruptcy Before or After Your Divorce?
This is a complex question that has no one answer. Sometimes it is better to file before you divorce and sometimes after. It depends on your financial situation and the timing and urgency of your divorce. A lawyer at our firm can review your situation and provide insights into this question. Zingarelli & Lawrence can also work with your divorce attorney to clarify these issues and protect your financial interests.
If you owe past due child support or alimony, these debts can be rolled into your Chapter 13 repayment plan.
No-Obligation Consultation — Contact Us Today
For more information about divorce and bankruptcy, contact Zingarelli & Lawrence. We have offices in downtown Cincinnati, Ohio, and Florence and Warsaw, Kentucky, to serve you.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
