When Divorce Leads to Bankruptcy in Florida
Experienced Jacksonville Bankruptcy Attorneys
In the state of Florida, divorce is one of the most common reasons for
Chapter 7 and
Chapter 13 bankruptcies. Because Owenby Law, P.A. practices family law and bankruptcy
law, we are intimately familiar with the financial stress and strain that
a divorce can place on an individual. Oftentimes, the expenses involved
in being forced to start a new life can make it impossible to pay obligations
that were incurred during the marriage. Our bankruptcy and divorce attorneys
represent parties who have become insolvent due to the dissolution of
their marriages. We have the experience, knowledge, and legal acumen to
ensure as smooth a transition as possible for recently divorced clients
who are struggling financially.
To request a Free Initial Consultation, call us at (904) 770-3141!
Why Divorce Often Causes Bankruptcy
When you factor in the fact that each divorcing party is now responsible
for his or her own housing and utilities, it is easy to see how a newly
divorced individual can be overwhelmed with debt.
This is due to the following reasons:
- Because Florida is an equitable distribution state, the marital property
and debt of both spouses are divided equally.
- In many cases, these liabilities exceed the assets requiring the debt to
continue to be serviced in the form of monthly payments.
- Divorce causes an involuntary restructuring of finances that may not be
manageable for one or both individuals.
Depending on which course is chosen, a Chapter 7 or Chapter 13
bankruptcy allows the petitioners to discharge or restructure their debts to allow
for the increased cost of living. Our bankruptcy team recognizes how difficult
it can be to start a new life after marital dissolution. Let our Jacksonville
bankruptcy lawyers review your personal finances and determine whether
you qualify for relief under the Florida bankruptcy laws.
Owenby Law, P.A.: Utilizing Our Unparalleled Experience on Your Behalf
Our firm is led by
Joy Owenby, a seasoned professional who has unparalleled experience as a bankruptcy
and divorce lawyer. Her familiarity with divorce gives her an invaluable
advantage when it comes to negotiating with creditors or petitioning the
federal bankruptcy court. Whether you are an existing client who sought
our family law services, or you are a new client who is seeking a bankruptcy
lawyer with specific experience in this area, we are the right firm to
handle your Chapter 7 or Chapter 13 filing. We serve clients throughout
the Jacksonville area, covering Clay, Duval, St. Johns and Nassau counties.
Please give our office a call to learn more about how we can help you with bankruptcy.