Law Offices of Buddy D. Ford, P.A.

“Representation with Dignity”
Since 1987

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Could divorce and bankruptcy collide in your world?

When it rains, it pours, they say. Sometimes, it can feel as if the stars have all aligned against you. This is especially true if you find yourself teetering on the precipice of both bankruptcy and divorce.

If you are a small business owner, either on your own or in partnership with your soon-to-be ex-spouse, you and your business are particularly vulnerable at this time.

The good news is that while both divorce and bankruptcy may prove inevitable, with a little guidance and foresight, you can use both legal measures to improve your personal and financial circumstances.

The first thing that you should do is determine whether it is more strategically advantageous to file for divorce or bankruptcy first. We will review your situation and make a recommendation on the preferred order of filing.

Much will depend on the relationship between you and your spouse. Those who can remain civil and work together might find that they will fare better filing for bankruptcy under Chapter 11 as a married unit. That could potentially save your small business from closing its doors if the two of you are able to remain debtors in possession of the business. You also can save on attorneys' and filing fees by filing for bankruptcy as a married couple.

Those in more acrimonious relationships with their spouses might not be able to reach that level of cooperation. In some cases, it could be necessary to settle your divorce before filing for bankruptcy protection from the court.

We can help you review your options and determine the course of action that is best for your circumstances.

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