Bankruptcy is simply a legal process through which you take care of your outstanding debt. The court system understands that financial plans do not always work out. You take out a loan and then lose your job. You lose assets in a divorce. You get hurt and face...
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Month: May 2018
3 tips for divorcing without going bankrupt
It is no secret that divorce can be expensive. Living on a single income, splitting assets, taking on debt from your partner and paying court fees may make it tough to make ends meet. In fact, according to one study, divorce is one of the top causes of bankruptcy.But...
Why get a postnuptial agreement?
A prenuptial agreement protects you in case you and your spouse get divorced, and you sign it before the marriage. A postnuptial agreement, or a postnup, does the same thing, but you sign it after the wedding. Why would you want to draft a postnup? If you did not feel...
Who owes what on a joint account?
You and your spouse start up a joint credit card account. You run up $5,000 in debt. Now you're wondering who is responsible for what portion of the payments.Since it is a joint account, does that mean you split the debt in half? Do you owe $2,500, while your spouse...
The huge impact of excessive debt
Excessive debt can impact your life in many ways, some of which you may be well aware of when you first take on that debt. Interest rates increase what you owe, monthly payments have to fit into your budget and failing to pay off your debt causes your credit score to...
3 things to consider when telling your kids about your divorce
Divorce is a hard topic for people to discuss when they are getting ready for or are in the midst of the process. It is even more challenging to figure out how to break the news to your kids. The longer you wait to say something about the divorce in Nashua, the harder...
