Sometimes, people in Pennsylvania realize that they are in over their heads financially and start to look for a way out of their situations. However, nothing seems to be a viable option for them -- that is, nothing except for personal bankruptcy. But what happens if someone has already filed for bankruptcy in the past? Can he or she file again in the future?
What can a Pennsylvania prenup cover?
A premarital agreement - a prenup - is a legally binding way for new partners to define their legal claims in case of a divorce. A prenup may seem cold in the rosy glow of nascent love, but in the harsh light of the courtroom there is only what is written in the law and what the participants have agreed upon.
Property division may be more complicated in gray divorce
No matter how old or young a married individual may be, getting divorced can be financially complicated. However, dealing with divorce issues such as property division in Pennsylvania can be particularly complex for those over the age of 49. Here is a glimpse at a couple of items that specifically affect those who are going through a gray divorce, or a divorce in their later years.
Personal bankruptcy is viable option for those with debt issues
Sometimes, people's personal debts in Pennsylvania end up outweighing their assets. In these situations, it is natural for people to feel hopeless and helpless. However, personal bankruptcy may be a viable option for them, and for those who worry that bankruptcy will negatively impact their credit, the problem may not be as bad as they think.
Divorce mediation: Trial may be unavoidable in certain cases
Moving forward with the dissolution of a marriage in Pennsylvania can understandably leave a person struggling with a wide range of emotions. One the one hand, he or she may be happy to break free from an unfulfilling marriage. At the same time, this individual might not look forward to the conflict he or she may face during the divorce proceeding. However, in some marriages that are rife with problems, divorce is the only solution. Here are some signs that going through divorce trial, or perhaps opting for divorce mediation, may be appropriate given the circumstances.
City councilor files for personal bankruptcy
A city councilor in another state recently decided that his financial situation was beyond what he could handle on his own. He therefore decided to file for personal bankruptcy. Individuals in Pennsylvania who are struggling to make ends meet can likewise take full advantage of this type of bankruptcy filing.
