The Interplay Between Bankruptcy And Divorce

Sometimes, the rules for bankruptcy can be complicated by divorce. Issues of timing are important in bankruptcy, and they often rely on concerns regarding joint incomes, asset ownership, inheritances, alimony and more. Bad timing can mean the loss of treasured belongings or even not qualifying for the kind of bankruptcy you want.

To learn about your options when it comes to bankruptcy and divorce, talk to our lawyers here at Di Giacomo & Somers L.L.C. in Northfield. With more than 110 years of combined experience between us, our knowledgeable, dedicated bankruptcy attorneys help people throughout the northern Chicagoland area when it comes to evaluating how and when to file bankruptcy where divorce is also an issue.

Bankruptcy And Divorce

Divorce can lead to extreme financial hardship for both spouses. Couples often find that where there is enough money to support one household together, running two households separately is not financially possible.

At Di Giacomo & Somers L.L.C., we can help you tackle and address important questions like:

  • Should I file for divorce and bankruptcy at the same time?
  • How long will it take to get through both a bankruptcy and a divorce?
  • Can all debts be eliminated or discharged through bankruptcy?
  • What if my spouse is hiding property or assets, withholding tax returns or destroying financial records and books?

If you are already divorced and considering bankruptcy, it's important to note that there are some debts that cannot be discharged, including child support and spousal support payments.

Would An Initial Consultation Help You Decide?

We make it a point here at Di Giacomo & Somers L.L.C. to help you determine if bankruptcy is the answer to your needs. To make that determination, we will sit down with you personally, listen to your concerns and analyze your financial situation. We understand that every situation is different because every client is different. There is no such thing as a one-size-fits-all bankruptcy because there is no such thing as a one-size-fits-all person.

Find out what solution works best for you. Call us today at 847-784-8900 to make your appointment or feel free to contact us online.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.