Chicago, Illinois, Bankruptcy Lawyer
Divorce is cited as one of the primary reasons people file bankruptcy. In our modern society, families are often held together financially by two incomes. If the cash flow suddenly gets cut in half because of divorce, many individuals simply cannot maintain the debt payments that are part of the property settlement.
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Couples may choose to file bankruptcy as a family, prior to their divorce judgment. In most cases, the divorce will be held up until the bankruptcy proceedings are complete and the final disposition of the debts has been settled. Individuals often choose to file bankruptcy following their divorce judgment, only to discover that certain marital debt or obligations that are part of the judgment or settlement are not allowed for discharge under Chapter 7 or reorganization under Chapter 13. In general, monthly child support obligations cannot be included in the filing. Spousal maintenance arrears cannot be eliminated by Chapter 7, but may be included as part of a debt reorganization plan under certain conditions.
Learn more about how divorce will affect your bankruptcy filing and how filing bankruptcy can affect your divorce. Talk to Illinois bankruptcy attorney Chad Hayward at the Law Offices of Chad M. Hayward. We offer a free initial consultation to evaluate your situation and provide a sound, clear explanation of your options.
We will work with your Illinois divorce attorney in all matters related to your individual or joint bankruptcy filing.
If you are ready for a fresh start, we are ready to help. Illinois bankruptcy attorney Chad Hayward represents clients in the Chicago metro region and communities throughout Illinois.
The Chicago bankruptcy lawyer you hire will make a difference in the outcome of your filing. Reach us to schedule an appointment at any one of our local community offices by calling 312-546-4689 or toll free 888-804-8641.
Chicago
Aurora
Joliet
Schaumburg
Palos Heights
Northbrook
Oakbrook
St. Charles
You can also contact us by e-mail with a brief description of your legal problem. We look forward to helping your family get the fresh start from debt you need and deserve.
