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If We’re Considering Bankruptcy, Should We File Jointly Before Our Divorce Or Individually After Our Divorce In Brooklyn?

If you’re considering both bankruptcy and divorce, there are advantages to filing jointly before a divorce, as well as filing individually after a divorce.

If you file for bankruptcy jointly in Brooklyn, you are entitled to take additional exemptions, which can help you protect property that you may not be able to as an individual.

You’ll also be able to clear away debts that would otherwise have to be distributed between yourselves as part of the divorce.

On the other hand, if you wait until after a divorce to file, you may be able to cancel debts that were allocated to you in the divorce.

The problem with this approach is that debt that was in your spouse’s name but assigned to you still has legal ties to your spouse, so you can use bankruptcy to end your obligation, but the creditor can then come after your former spouse, who may ultimately come after you for reimbursement.

These are complex issues and you should get experienced legal guidance before you make a decision about how and when to file for divorce and bankruptcy.

The attorneys at Zelenitz, Shapiro & D’Agostino can help you understand your options and the advantages that each brings.

Call us today at 718-725-9601 for a free consultation with an experienced Brooklyn divorce attorney.

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