Illini Legal Services
C. David Ward - Attorney at Law
Experienced & Affordable Debt Relief
We Fight For You to Preserve Your Financial Freedom!
Because we concentrate only in bankruptcy law, we are able to charge volume discounted fees to our clients. We provide TOP QUALITY legal services CHEAPER than the competition!
CHAPTER 7 CONSUMER BANKRUPTCY
$980.00 Legal Fees - Plus Costs
When you need a bankruptcy attorney, you can count on our
over 40 years of legal experience to help guide you.
Bad Things Can Happen To Good People.
Do NOT be ashamed to get help - (630) 585-3164
Bankruptcy & Divorce Attorneys - Kane County, IL
During a divorce, spouses must work through many challenging financial and emotional issues. Dividing debt and transitioning from one household to two can be financially devastating for a family.
At Illini Legal Services, attorney C. David Ward has been helping people and families for more than 40 years manage the debt issues associated with divorce.
We will analyze your financial situation and help you create a debt relief plan that meets your current and future financial needs. To schedule a free consultation with one of our lawyers, please contact us today.
Get Help During Your Divorce With Debt Management Options
During a divorce, you and your spouse must divide your marital debts as well as your assets. If you have accrued significant debt during your marriage, it could create financial problems as you embark on the next phase of your life.
We will counsel you on your rights and options regarding bankruptcy and divorce. We will also advise you as to whether it makes sense to file joint bankruptcy during your divorce, on your own after the divorce, or even at all. Each situation is different and requires a personalized approach. There are other alternatives to bankruptcy such as loan modifications, negotiations, and debt settlements or consolidations. We are here to find the right solutions for your specific situation.
How Does Bankruptcy Affect My Divorce?
Often times, unfortunately, divorce and bankruptcy happen about the same time. Either event is catastrophe enough, but together they are truly heart wrenching. Nonetheless, it is important to take a quick look at the impact bankruptcy can and does have on divorce both during the divorce and after the judgment for divorce and the settlement agreements are entered.
First, while you can do a bankruptcy during or before the divorce is final and/or after the final divorce orders are entered, we prefer (unless both parties are joining in the bankruptcy) to do the bankruptcy, with all parties full knowledge, after or very near the entry of the final divorce orders. It is extremely important that your divorce attorney is knowledgeable about the correct language that should be in the divorce settlement papers to protect both parties in the divorce and bankruptcy.
Second, all obligations agreed to in the divorce settlement are what we call non-dischargeable in a bankruptcy proceeding. It is crucial that you understand what obligations you are undertaking in the divorce agreements. Even if you declare bankruptcy, if you agreed to pay the debt or obligation in the settlement agreements, the bankruptcy discharge will not apply to those debts. You can be sued in divorce court and have your assets and/or income taken to satisfy the debt even if the original creditor has been discharged.
For example if you file bankruptcy and discharge joint credit card debt, the credit card company will not be able to sue you or collect the debt it may however be able to sue the joint debtor. If you agreed to pay the debt in the divorce papers you will not be able to discharge the debt.
Third, the complexity of the interrelationship of bankruptcy and divorce is immense. However, bankruptcy can be a way to resolve debt in a divorce preceding that would otherwise make the financial settlement in the divorce impossible. The one thing for certain in divorce is the minute the two parties establish two households the core expenses double and there never is enough money. While bankruptcy should be the last resort, it can allow both parties and their children to restructure their lives so they can look to the future with some hope and peace of mind.
At Illini Legal Services, we offer a free in person consultation to each of our clients. During your consultation, we will take the time to listen to your financial concerns and assess your case and individual situation. We have four locations to serve you. Contact us today for help!
Illini Legal Services is engaged in the private practice of law and is not a public legal aid agency. We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.