Faced with a foreclosure and the mounting debts of credit cards and other charges
some couples find that the pressure of their financial situation is too great to bear. Facing financial ruin there are a lot of people that are filing for bankruptcy. Even after clearing their debts and realizing that they are left with nothing many couples find that the pressure on their marriage is also too much for them to manage. Ending up in court of law filing for divorce the odds are against every couple that decides to tie the knot. Throughout Albany family law practices are counseling couples about the division of their property as a marriage falls apart.
With children the family faces custody issues and visitation rights in addition to settling alimony and support payments for a broken home. By working with an experienced Albany divorce lawyer that is capable of reaching an agreement without a lot of arguing or hatred for each member of the dissolving partnership couples can find the common ground that allows them to part on friendly terms. Within almost every marriage the number one cause of arguments is money. With the economy in a rebuilding state and jobs being scarce many couples are facing the difficulty of managing their finances with little coming in and a lot of bills to be paid.
It is estimated that every man, woman and child in America owes (on average) $10,000 in credit card debt. Of course children are not issued credit cards so those numbers are being spread out across every household in the country. Between the average couple the amount is more like $40,000 in credit card debts alone. Add to that the expense of a mortgage and a couple of auto loans and the couples that are in over their head are unable to resolve their budget or make payments that they owe for their undisciplined spending.
The impending decision to file bankruptcy is something that many couples face today. While the couple might be among the one third statistic of all marriages that stay together there will more likely come a time when they will have to call on the services of an Albany bankruptcy lawyer to help them out of a crushing personal debt crisis. Learning how to manage their money wisely a few couples are strengthened by the resolve of going through a bankruptcy together. Unfortunately the strain of financially bad choices crushes many marriages and is the final blow that tears a home apart. With the help of an understanding Albany family law practice couples that have tried to resolve their differences can find a way to separate on good terms and begin the next chapter of their life alone.