Division of Debt In A Divorce In Illinois
Just as Illinois family laws call for marital property to be divided in an “equitable” manner during a divorce, any debts accrued during the marriage must also be divided. Ensuring that you are not stuck with an unfair debt burden is a natural concern.
For more than 30 years, our family law attorneys at Boyle Feinberg Sharma (BFS), have represented high net worth clients in all types of complex property division disputes. BFS’s family law firm is widely regarded in the Chicago area legal community for our attorneys’ ability to find effective solutions for our clients, including in the division of debt.
BFS’s Family Lawyers Protect Your Financial Interests
Protecting your financial well-being now and into the future is our top concern. We can help with all types of debt disputes, including issues like:
- If one spouse ran up a great deal of debt on a jointly held credit card;
- If a spouse was concealing a large amount of debt because of a gambling problem or some other behavior;
- Dividing debt that one spouse held before a marriage but has since become commingled;
- Determining who will make payments on a home or car loan and who will take possession of the property.
Just like with the property division process, we will use the discovery process to get a full accounting of you and your spouse’s debts. We can work with forensic accountants to determine if a spouse is trying to force debt on you that you did not even know existed.
Contact Boyle Feinberg Sharma (BFS), Today For Help
There are few property division issues that our family lawyers have not dealt with throughout their careers. If you would like to schedule a consultation at our Chicago firm to talk to an attorney about your concerns, contact us online or call 312-376-8860 or 847-394-3940.