It has been known for quite some time that money problems contribute to divorce, and if you have ever faced serious financial trouble, then you understand why. Debt problems cause stress, and that stress can result in friction between spouses.
As the debt continues to mount, so does the friction — until a breaking point is finally reached and one or both spouses decide to call it quits.
But what if the debt problems were to go away? Would all of your marital problems disappear? Probably not, but it could reduce conflict enough to make a reconciliation possible.
As a divorce and bankruptcy law firm, we understand how financial problems and marital problems can go hand-in-hand. In some cases, pursuing a Chapter 7 bankruptcy together provides such drastic debt relief that it reduces marital stress and makes it possible for the couple to stay married.
While no one would ever think of filing for bankruptcy as a way to save a marriage, that’s exactly what happens in some cases. However, whether or not this will work for you entirely depends on your unique situation.
If you are considering a divorce and are also struggling with financial problems, talk to an attorney with experience handling both types of cases to better understand your options.
Even if you ultimately decide to end your marriage, filing for Chapter 7 bankruptcy jointly can help address many of the concerns that could otherwise lead to an expensive, lengthy and contested divorce. Keep reading for more information on divorce and bankruptcy.
No matter how hopeless things may seem today, know that a brighter future is possible that and you deserve it.