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Ch. 7 or 13 for divorcing couple
What is the best way to handle this?
H&W are living apart and divorce proceedings are imminent. I was going to do a Ch. 7 for them, but it's looking like they're simply not going to be eligible (too much disposable income, even with separate households).
They have well over $100,000 in community debts. I'm very hesitant to file a joint chapter 13 case with divorce looming (for obvious reasons). However, it seems that filing two separate chapter 13s for them either pre- or post divorce would result in a windfall to the creditors somehow (getting paid twice) as well as other inefficiencies.
How do you all handle these situations?
______________________
Mark J. Markus
Law Office of Mark J. Markus
11684 Ventura Blvd. PMB #403
Studio City, CA 91604-2652
(818)509-1173 (818)509-1460 (fax)
web: http://www.bklaw.com/
This Firm is a Qualified Federal Debt Relief Agency
___________
NOTICE: This Electronic Message contains information from the law office of Mark J. Markus that may be privileged. The information is intended for the use of the addressee only. If you are not the addressee, note that any disclosure, copy, distribution or use of the contents of this message is prohibited.
IRS CIRCULAR 230 NOTICE: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. tax advice contained in this communication (or in any attachment) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed in this communication (or in any attachment).
What is the best way to handle this?
H&W are living apart and divorce proceedings
are imminent. I was going to do a Ch. 7 for them, but it's looking like
they're simply not going to be eligible (too much disposable income, even with
separate households).
They have well over $100,000 in communitydebts. I'm very hesitant to file a joint chapter 13 case with divorcelooming (for obvious reasons). However, it seems that filing two
separate chapter 13s for them either pre- or post divorce would result in awindfall to the creditors somehow (getting paid twice) as well as other
inefficiencies.
How do you all handle these
situations?
______________________Mark J. MarkusLaw
Office of Mark J. Markus11684 Ventura Blvd. PMB #403Studio City, CA91604-2652(818)509-1173 (818)509-1460 (fax)web: http://www.bklaw.com/This Firm is aQualified Federal Debt Relief Agency___________NOTICE: This Electronic
Message contains information from the law office of Mark J. Markus that may be
privileged. The information is intended for the use of the addresseeonly. If you are not the addressee, note that any disclosure, copy,
distribution or use of the contents of this message is prohibited.IRS
CIRCULAR 230 NOTICE: To ensure compliance with requirements imposed by the IRS,
we inform you that any U.S. tax advice contained in this communication (or in
any attachment) is not intended or written to be used, and cannot be used, for
the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii)
promoting, marketing or recommending to another party any transaction or
matter addressed in this communication (or in any
attachment).
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