Expert: Terry Leeders - 2/24/2010

Question
We filed for divorce, and have decided to file a joint bankruptcy. Is it ok if bankruptcy is not filed by the divorce date as long as we leave the debt out of the divorce papers?

Answer
If you are doing a joint bankruptcy, and the bankruptcy is discharged before the divorce, then the debt is discharged and does not need to be listed.  If the divorce is final first, then you must list the debts in the divorce.  The other issue is that you cannot do a joint bankruptcy if the divorce is final first.  Good luck.