Rolling Meadows Debt Division Lawyers
Rolling Meadows Marital Debt Lawyer
During a divorce, it is necessary for both parties to sort out their financial issues, which includes both marital assets and marital debt. Although many people will argue about who gets what, when it comes to the debt they accrued together no one will take responsibility. This is what causes divorce cases to become very long and endless is the lack of blame people will take and owning up to their mistakes. Deciphering what debt belongs to which partner and signing an agreement can take more time than what one might hope.
Cosley lawyers have a deep understanding of the Illinois marital property laws. Let us help you move on with your life, so reach out to the marital debt division lawyers at Cosley Law. The most important questions to ask when dividing marital debt are: how much debt is there between the couple and if there was debt before the marriage, how much was it and who owned it? Trying to decide who owns what debt can extend the divorce process even longer and the list can become never ending.
Divorce Solutions for Illinois Families
Marital debt division lawyers at Cosley Law always seek for a fair resolution between both parties and we are prepared to defend you in court. Through a series of mediations and negotiations, we will settle upon an agreement that meets your goals and needs. We keep an open line of communication with our clients by keeping them up to date on their divorce issues and property and finance settlements and contacting them about changes to the agreement.
Illinois is a non-community property state, which means that any marital property is part of an equitable distribution process. This includes marital debt. Equitable distribution process is determined according to what is fair and depends on your specific situation and does not always mean equal. If debt was accumulated under one person’s name it is still considered marital debt. Some types of debt that could be considered are credit card debt, student loans, personal loans, mortgage and home equity loans, unsecured loans, small business debt, judgments, tax obligations and others.
Contact an Experienced Rolling Meadows Debt Division Lawyer Today
The court will make the final decision regarding the division of marital debt after both parties come to an agreement. With the help of an experienced professional lawyer, this agreement process can be made much simpler while negotiating to get you as much as you wanted. Call Cosley Law offices today to speak with a representative about dividing your marital debt or with any other questions or concerns regarding your divorce issues.