William G. Berggren, a Raleigh bankruptcy lawyer at Berggren Law Offices, PLLC, has helped thousands of families in the Raleigh, NC, area get a fresh start through bankruptcy. He has been in practice for over 30 years and has been in Raleigh, North Carolina, since 1991.
(Raleigh, NC, September 2022) Berggren Law Offices, PLLC highlighted a few common points regarding many North Carolina married couples facing bankruptcy.
Despite the fact that divorce rates in the United States are declining, finances are one of the most significant sources of stress for married couples. According to one recent study, 54% of respondents believe that having a partner who is in debt is a major reason to consider divorce.
Even if only one spouse files for bankruptcy, the process can strain the relationship emotionally.
Although bankruptcy affects each relationship differently and can eliminate much of the financial stress of debt, most couples will have to adjust their lifestyles to deal with the new financial reality. These changes can put a couple under stress and cause anger or resentment, especially if the debt is primarily held by one partner.
Loans taken during marriage and other factors push the debt balance up, making people feel like they have more responsibility than just the terms of their own loans. Many couples consider what comes to them as joint debt, with each person bearing financial responsibilities.
It is important to consider filing as a couple or separately under different chapters before making an official bankruptcy decision. You may want to file as a couple, one person at a time, or file separately in North Carolina.
A Raleigh bankruptcy attorney can assist couples in understanding the bankruptcy process and making informed decisions about the best course of action. They can also assist you in filing for bankruptcy, managing your finances throughout the process, and protecting your assets.
Bankruptcy is not a decision to be taken lightly, but it may be the best option for improving your financial and personal health, particularly if you are in unimaginable debt.
When couples consider filing for bankruptcy, they should be aware of the advantages and disadvantages of this option. A bankruptcy attorney can assist in weighing these factors.
If you are one of many North Carolina couples struggling with finances and want to learn how bankruptcy can help, the bankruptcy lawyer at Berggren Law Offices, PLLC, can give sound advice and solutions that work for your unique situation.
About Berggren Law Offices, PLLC
William G. Berggren’s experience includes work on some of the most complex corporate bankruptcies, some of the largest bankruptcy filings in the country to the simplest individual filings. Berggren Law Offices, PLLC offers free consultations to learn more about filing for bankruptcy and has over 30 years of experience providing their clients with effective legal representation.