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Divorce And Mediation Article
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Q: As a result of my divorce, I'm left with more debt than I can handle. Is there an alternative to bankruptcy?
from: Susan OrielyOne of the often-unintended consequences of divorce is the burdensome debt that was formerly handled by two, now to be handled by one. Creditors hold both spouses liable for debt incurred during the marriage. Any agreement between the spouses regarding who is responsible to pay the debt need not be recognized by the creditor.
To avoid bankruptcy, one must become acquainted with bankruptcy law. You must determine you income/expenses and your assets/liabilities. If you have the ability to fund settlements with the creditors, you should avoid bankruptcy.
Other than just paying you debts in full, one option to avoid bankruptcy is to compare debt consolidation with debt negotiation. Debt consolidation is a payment plan in favor of your creditors to pay the debts in full over time with interest. Debt negotiation, however, provides for discounted cash settlements, which are customized to you ability to fund.
Most people are unaware of the possibility of negotiating with creditors to reduce the amount of money they owe them. I recommend that you seek out a professional - one who is not emotionally involved - who has experience handling creditors to give you a fair assessment of what the outcome of this strategy might be for you. In addition, arrangements can be made to minimize the negativity on your credit report.
About the Author
CuraDebt.com is a center for helping consumers nationwide become debt free without filing bankruptcy. The agency provides a FREE Debt Freedom plan consultation at 1-877-850-DEBT(3328) or on the web site: http://www.curadebt.com/a/1242
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Divorce And Mediation News
Clarke unveils divorce law reforms - IBB Solicitors (blog)
 Telegraph.co.uk | Clarke unveils divorce law reforms IBB Solicitors (blog) Parents who are getting a divorce will have to go to mediation proceedings to cut down on costly court cases, Ken Clarke has said. The Justice Secretary added that divorced fathers will be given more rights but may not be guaranteed the same access as ... Divorced fathers might not get equal time with their children after a divorce ... Ken Clarke reveals plans to give divorced fathers more rights Grandparents will get key role in family splits: Shake-up to ensure they keep ... |
Both mediation and legal advice is needed by separating couples - The Independent (blog)
 The Independent (blog) | Both mediation and legal advice is needed by separating couples The Independent (blog) With this in mind, a small group of experienced family lawyers and family mediators last year set about devising a new approach to divorce and separation that puts dialogue centre stage. The result is lawyer-supported mediation and we believe it has ... |
Separating couples 'will have to go to mediation' before being granted a divorce - Daily Mail
 Daily Mail | Separating couples 'will have to go to mediation' before being granted a divorce Daily Mail By James Chapman Separating couples are to be forced to go to mediation before turning to the courts in the biggest shake-up of family law for more than 20 years. Justice Secretary Kenneth Clarke said the Government would legislate to make it ... |
Gloucester County College Center for People in Transition offering workshops - Gloucester County Times - NJ.com
Gloucester County College Center for People in Transition offering workshops Gloucester County Times - NJ.com “Mediation for Divorce”— Nancy Hawn, MS, NJAPM, acts as an impartial third party to assist divorcees in developing appropriate communication strategies. She will discuss mediation, the means of resolving differences and conflicts between consenting ... |
Mura to retire after 20 years as Whatcom Superior Court judge - TheNewsTribune.com
 TheNewsTribune.com | Mura to retire after 20 years as Whatcom Superior Court judge TheNewsTribune.com At that time, they could go straight from their attorneys' offices to the courtroom. Civil cases languished while the court's time was dominated by criminal and divorce cases, Mura said. He urged creation of a mandatory mediation process. |
