If you have gone through a divorce, are going through one or are even contemplating divorce, then you know it can often be a confusing and challenging process. Many questions can arise with respect to the equitable distribution of assets and liabilities.
As many already know, the division of assets and liabilities are set forth in a Property Settlement Agreement which is voluntarily entered into by both parties. As part of a Property Settlement Agreement, for example, an ex-spouse may have to provide a period of alimony support to the other spouse or has agreed to incur the marital credit card debt.
However, because divorce is in fact a disruptive process, many spouses can end up in debt over their heads and do not have the money to cover their support and/or debt obligations. Therefore, the question becomes: Can an ex-spouse file for Bankruptcy and discharge these debts agreed upon in the Property Settlement Agreement?