Mt. Prospect Debt Division During Divorce Attorneys
Rolling Meadows Marital Debt Attorney
One of the more complex and contentious parts of divorce is dividing marital property. This also includes a division of any marital debt. At the Law Offices of Donald J. Cosley, we have a deep understanding of Illinois marital property laws. Let us help you in moving on with your life.
Do you need the help of a Rolling Meadows debt division attorney? Contact us today to speak with a dedicated Illinois debt division attorney. We can be reached online or by phone. Call our Rolling Meadows office locally at 847-253-3100.
Divorce Solutions for Illinois Families
At the Law Offices of Donald J. Cosley, we have been representing Illinois residents in their divorce cases for over 20 years. We will seek a fair resolution to your debt division case. While we initially seek a property division agreement through mediation or negotiations, we will aggressively represent you in any court proceeding. We are always open with our clients and keep them up to date on their divorce matters.
Illinois is a non-community property state. This means that any marital property, including debt, is part of an equitable distribution process. This does not mean equal, but what is fair and just according to your specific circumstance. Marital property generally includes any assets, debts or liabilities acquired during the marriage.
Sometimes, even if debt was only acquired by one party or under one party's name, it can still be considered marital debt. Debt that is examined in the debt division process includes:
- credit card debt and personal loans
- mortgages and home equity loans
- unsecured loans
- small business debt
- tax obligations
Once it is determined what constitutes marital debt, it is divided between the parties. If the parties come to an agreement, it is more likely the court's order will be influenced by it. That is why you need an experienced divorce attorney to properly negotiate your division of marital debt.
Contact an Experienced Rolling Meadows Debt Division Attorney Today
Divorce and the division of marital property and debt are sensitive matters and require the guidance of a skilled attorney. Contact us today to speak with an experienced Schaumburg marital debt attorney. We can be reached online or by phone. Call our Rolling Meadows office locally at 847-253-3100. We offer all clients free initial consultations.