Debt and Divorce — What Do You Do?
Are you concerned about who will acquire the marital home and its mortgage obligations after a divorce?
Economic downturn has caused home values to plunge across the nation. While many families may be capable of recovering from the loss over time, other people, such as people filing for divorce, do not have the option to wait for the market to recover. Of all marital debt, the marital home is the most difficult liability for most couples to dispose of.
Nora Lee Wright, Attorney at Law, a bankruptcy lawyer with more than 30 years of experience offers debt relief solutions that can help you eliminate marital debt in a divorce. We offer a free initial consultation to assess your situation and explain the options available to you. Contact us to schedule your appointment or call toll free at 866-401-0594.
Dispose of Marital Debt in Bankruptcy
Previous options to eliminate mortgage obligations in divorce included the option to sell the home and pay off the mortgage. However, with the drop in Michigan home values, most couples seeking a divorce owe more on the house than it is presently valued. Our Ann Arbor law firm assists clients in disposing of their marital home through Chapter 7 bankruptcy.
Chapter 7 bankruptcy relief provides a remedy for divorcing couples who owe more on their home than they could recover selling the home. After assessing your financial situation, attorney Wright determines your bankruptcy eligibility. Then, if eligible, we help you surrender the home to the Bankruptcy Court and eliminate remaining debt from the mortgage. In addition, other marital debt, such as credit card debt or medical bills can also be eliminated.
It Will Cost You Nothing to Find Out Your Options: Call 866-401-0594
We help clients file for bankruptcy before or after divorce. Therefore, whether you are trying to get rid of the home after divorce or are assessing your options prior to divorce, put attorney Nora Lee Wright's knowledge and experience to work for you. Call 866-401-0594 to schedule a free initial consultation or send us an e-mail.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
