When couples have money problems, a bankruptcy lawyer may be the legal eagle to turn to. There are many reasons why spouses end up drowning in debt but the end result is common: tremendous pressure. It's hard to be a giving and compassionate spouse when the wolf is at your door. Cleaning up money troubles can give the marriage a fresh start. Chapter 7 or Chapter 13 may be the best option, depending on the circumstances.
Chapter 7 is the legal option taken that wipes away debts. Your bankruptcy lawyer will perform an assessment of your financial situation in order to determine if this is the most advantageous course of action. If so, it means that the slate will be wiped clean of all bills for a fresh start. This is often the best option for couples who have overwhelming credit card debt, medical bills, and personal loans that they need to clear up. After your attorney determines that this is the best course of action for your situation, he or she will file documents, negotiate with creditors and represent you in court.
Chapter 13 may be the best route to take if a restructuring of debts is in order rather than completely wiping them away. This legal action can provide relief but still allow you to keep assets such as your house and automobiles. With this financial filing method, a bankruptcy lawyer will perform an assessment of your finances, file documents, negotiate with creditors, and represent you in court. The goal is to restructure your debt by breaking your large monthly payments into smaller amounts so that you can breathe.
Common problems that occur between husbands and wives include blaming, shaming, and becoming argumentative. If you find yourself in this situation, know that you're not alone. There may be finger pointing as one partner blames the other for the overwhelming debt. There may be accusations that one partner was spending too much and working too little. Both husband and wife may feel ashamed, depressed, and anxious - none of which are good for fostering a positive relationship. When money problems are a constant source of irritation, both partners may snap at each other and be argumentative. If a bankruptcy lawyer is called in, the money problems can be eased and the couple can start fresh. Putting the financial burdens behind them can leave room for healing and a renewal of love and affection.
Money problems are often the cause of divorce. Instead of splitting up, marriages can be saved by alleviated financial pressures. By calling in a bankruptcy lawyer, the debt burden can be eased so that the spouses can breathe again and find the strength to heal their relationship.