Cincinnati Bankruptcy Attorneys Your Path to a Better Future Starts Here

Divorce & Bankruptcy in Cincinnati

Start on the Path to a Better Future

Not only does divorce bring with emotional difficulties, but financial difficulties can arise as well. When a couple divorces, their existing debt will be divided between the two parties, often resulting in an overwhelming financial burden for one or both parties. After a divorce, you want to work toward rebuilding your life. Unfortunately, this can be challenging when you are burdened with debt acquired during the marriage. At the Law Office of Law Office of Goering & Goering, LLC, our bankruptcy attorneys in Cincinnati provide seasoned legal counsel for clients facing divorce, including support through the bankruptcy process.

For legal advice about divorce and bankruptcy, contact our firm at (513) 657-3531 to schedule a free initial consultation.

Know When to File

Ohio is an "equitable distribution" state, which means that during a divorce, marital assets (including debt) will be divided according to what the courts deem fair. This will not necessarily be a 50/50 split. It may be hard to predict ahead of time how the debts accrued during the marriage will be divided between you and your former spouse. If you suspect that paying off those debts alone would create a dangerous financial situation, or if you have already acquired a large amount of debt after a divorce, bankruptcy can give you the opportunity to get a fresh start.

If you are going through a divorce currently, you may be wondering whether you should file for bankruptcy with your spouse jointly, or if you should file alone after the divorce has occurred. It is generally not advisable to file for bankruptcy and divorce at the same time, as the bankruptcy case can complicate the divorce process. Assets would not be able to be distributed until the bankruptcy case is resolved.

The right time to file for bankruptcy depends on factors, such as:

  • The Type of Bankruptcy – The timeline of bankruptcy varies, depending on the type. Chapter 7 can be completed in a few months, but Chapter 13 take three to five years to complete.

  • Property Owned – The exemptions for the amount of property you are allowed to keep are doubled when you file with your spouse.

  • Income – Your income is used in the means test to determine if you qualify for bankruptcy. If the combined income of you and your spouse is too high, you may not qualify.

  • Responsibility for Debt – During the divorce process, the court will assign certain debts to each spouse. If the courts assign certain debt to your ex-spouse, but you were a co-signer on that loan, you might be held responsible for the debt anyway if your spouse fails to repay. Before getting divorced, you can eliminate a large portion of your combined debt—if not all of it—through bankruptcy.

Each situation is unique, so it is important to seek the advice of an experienced attorney. Our Cincinnati bankruptcy attorneys act as advisors to our clients during these difficult life decisions. We listen to your goals and aspirations and outline your options so you can make an informed decision about how to best pursue debt relief.

Please call (513) 657-3531 to learn about your option for divorce and bankruptcy during a free consultation.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

Why Hire Law Office of Goering & Goering, LLC?

  1. We have over 50 years of combined experience exclusively handling bankruptcy cases.
  2. We handle both consumer & business bankruptcy cases in Ohio and Northern Kentucky.
  3. We have filed thousands of bankruptcy cases & also teach bankruptcy law.
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