Getting divorced may cause more of an impact on your finances than in any other area of your life. For one, you and your spouse will most likely be required to split the proceeds from your assets and property in Georgia equally between the two of you. If your financial situation is already unstable, you may practically be starting from square one in developing any sort of savings plan for your future.
Other areas that will impact your finances include whether or not you will be required to pay things like child support or alimony. Likewise, if you are on the receiving end of either of those resources, you should not rely on getting either of them in case your ex is unwilling to pay. While he or she may face consequences for being delinquent, you would benefit from working your budget around those resources so they are merely an advantage if you do receive them.
One concern you may have is whether or not you will still be able to collect alimony if your ex files for bankruptcy. According to cnbc.com, if you and your spouse agreed to forgo traditional methods of paying alimony and your spouse is making your payments based on the division of the property the two of you once shared, he or she will no longer be obligated to pay alimony during bankruptcy. However, if a traditional alimony agreement was made, bankruptcy protections do not cover alimony and your ex will still be required to pay you.
The information in this article is intended for educational purposes only and should not be taken as legal advice.