If you are responsible for paying spousal support, filing bankruptcy will not negate that obligation.
You just found out that your spouse has filed for a divorce and you are in a panic. Perhaps at some point you made the decision to actually stop paying on your debts, because you just could not, and getting the petition for divorce was the last straw.
You think that it might be time to file bankruptcy, as you do not have the money to pay support. You also need to file some kind of response to the divorce action. Before you make any kind of decision relating to your divorce and/or filing for bankruptcy, consult with an experienced Iowa bankruptcy lawyer. If you make the wrong move now, you could find yourself with legal difficulties.
What considerations are there with respect to divorce and bankruptcy? Before the Bankruptcy Act was enacted in 2004, there was a way to discharge debts that came about as a result of divorce. Since lawmakers considered this to be a loophole, amendments were made to the Act to close it, which means you may no longer discharge any financial obligations that are the result of a divorce, including spousal and child support.
The only option for you to consider is whether your financial situation makes you eligible to file for bankruptcy protection. Whether or not you are facing a divorce is not relevant to the issue of filing bankruptcy. However, it is imperative that you discuss your situation with a qualified Iowa bankruptcy lawyer to make sure you know all of your options should you decide to move forward and file for Chapter 7 or Chapter 13 bankruptcy.
Filing for bankruptcy is stressful enough without also facing divorce at the same time. This is when you need to services of a skilled Iowa bankruptcy lawyer to help you get through the maze of rules, regulations, credit counseling and paperwork. If you attempt to file on your own without legal counsel, you may waste time and money and risk having your bankruptcy petition dismissed. Hiring a knowledgeable bankruptcy attorney is the best investment you will ever make.