Barrington Lawyer For Divorce And Bankruptcy
Divorce and bankruptcy are two of the most difficult decisions you will make in your life. If you are trying to handle both a divorce and bankruptcy at the same time, you will probably have many questions such as:
• When is the best time to file for bankruptcy during a divorce?
• Do I have to file for bankruptcy jointly?
• How should we divide debt during a divorce?
• How do I protect myself financially in a divorce?
Every situation is unique, and the answers to these and other questions will depend on your situation. At Manassa, Stassen & Vaclavek, P.C., we can answer your questions and address your concerns about bankruptcy and divorce. With more than 20 years of experience in this area, attorney Larry Manassa can provide you with the advice you need to make sound decisions for your future and the future of your family.
Bankruptcy Options During A Divorce
Debt issues can put a strain on any relationship. When debt problems are combined with marital problems, it can be overwhelming. When you work with our firm, we can guide you through your options, including:
• Chapter 7 bankruptcy vs. Chapter 13 bankruptcy: If you have very few assets, Chapter 7 bankruptcy can help you discharge debts and get a fresh start. If you have substantial assets or income, Chapter 13 can help you reorganize your debt and get on a payment plan so you can get your finances back on track.
• Joint filing vs. individual filing: Whether you file jointly or as an individual will depend on the types of debt involved in your bankruptcy. For example, if the debts are jointly owned and only one spouse files for bankruptcy, the other spouse will still be required to pay those outstanding debts.
• Filing before divorce vs. filing after divorce: The best time to file will depend on a number of factors. For example, if you and your spouse qualify for Chapter 7 bankruptcy, filing jointly before a divorce can discharge credit card debt, medical debt and other unsecured debts, which can simplify your divorce. However, if you and your spouse need to file for Chapter 13 bankruptcy, it may be best to wait until after you divorce since this type of bankruptcy lasts for three to five years.
We can help you weigh your legal options and protect your rights throughout the process. We are committed to helping you get the fresh start you need after a divorce.
Contact A Bankruptcy And Divorce Lawyer
To discuss solutions for your divorce and debt elimination with a lawyer at our office, contact us online. We offer free initial consultations, and we have office locations in Barrington, Crystal Lake, St. Charles, Deerfield and Oakbrook, Illinois.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
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