Taking the Fear and Uncertainty Out Of Your Bankruptcy Filing — And Your Divorce
Excessive debt and financial problems are often cited as the leading causes of divorce in Illinois. If your marital problems have caused a divorce at the same time that you are considering an individual or joint bankruptcy — and you don’t know if you can afford it — you owe it to yourself to get straight answers about your debt relief options.
Linda Bal is a lawyer who has helped individuals, families and businesses in Itasca, Naperville, Algonquin and the Greater Chicagoland area to rebuild their finances through consumer bankruptcy protection.
How Bankruptcy And Divorce Are Related
While national divorce rates continue to soar, and our economy continues to lag, you may be facing the need to divorce and start a new life on the one hand, and the need for a financial “fresh start” that can only be provided by Chapter 7 or Chapter 13 bankruptcy.
Here are some facts you should know about the bankruptcy-divorce connection:
- Divorce is always possible, but legal separation from your mutually collected debts is not. Division of debt can be worked out in a settlement agreement.
- When one spouse files for bankruptcy, the other is often compelled to file as well.
- If your former husband or wife does not repay a debt, a creditor can come after you.
- Domestic support obligations in your divorce decree such as alimony and child support are not dischargeable in a consumer bankruptcy.
- Many couples decide to file for bankruptcy first, then pursue the divorce.
Linda Bal uses her 20-plus years of experience and broad bankruptcy knowledge to show you the light at the end of the tunnel. She takes the embarrassment out of a bankruptcy filing and shows you how federal protections are the cure, not the disease. She knows that many of today’s personal and business financial success stories began as bankruptcies. She is dedicated to your success.
Discuss Your Options In A Free Consultation
Contact Linda Bal & Associates today at 630-912-5970 or 800-599-2152 toll free to get started, or get in touch online. We offer reasonable flat rate fees with no hidden costs, and weekend and evening hours, with appointment flexibility. All work performed personally by an experienced attorney. You can count on our prompt, professional service.