Behm Law Group discusses the complicated relationship between divorce and bankruptcy filings
It’s estimated that 50 percent of marriages in America end in divorce. While that may seem staggering, it’s almost as staggering to realize 50 percent of marriages persevere.
Not surprisingly, some marriages carry on simply because the financial burdens associated with divorce are more unimaginable than the divorce itself. Considering financial problems are one of the biggest contributing factors to marital stress, it’s understandable why the additional stress of a divorce isn’t worth it to some people.
During a divorce, substantial, if not insurmountable, legal fees can be incurred on both sides. A once one household marriage becomes a two household divorce. Shouldering the burden of paying for a residence by oneself is difficult when you’ve been sharing costs. An additional residence can be an incredible additional expense.
If children are involved, the issue of providing child support can prove almost impossible to pay, depending on how many children there are and how much is expected in payment each month. If a parent simply can’t afford to pay child support, the other parent may not be able to make ends meet. It can be a financially precarious situation for both parents involved.
All of these costs associated with divorce may necessitate bankruptcy filing by one or both parties. It can be a very emotional, stressful, and seemingly impossible situation for everyone involved.
We at Behm Law Group, Ltd. are intimately aware of the emotions and despair that can go into a difficult divorce. We understand there are often no easy answers and that a bankruptcy filing can be a depressing reality during a divorce that’s already painful enough. We’ll work with you to get you through the bankruptcy experience with as little disruption to life and with as little stress as possible.
If you’re a resident of Mankato, MN or the surrounding communities, or anywhere in Southern MN and you’re seeking bankruptcy advice due to a divorce or other reason, call on Behm Law Group, Ltd. for assistance.