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Debt Division

Palatine Debt Division Lawyer

Like division of marital property, debt division can be a fiercely disputed process in a divorce settlement. Whether or not you and your spouse are able to collectively work to divide your marital debt, The Law Offices of James M. Kelly can effectually help you through the process while advocating your needs and your best interests.

Palatine debt division attorney James M. Kelly has been assisting individuals and families with divorce for more than 23 years from his office in Palatine, Illinois. Representing clients throughout the Greater Chicago area, we can provide them with the legal advice and representation they need to achieve the best results in their settlement.

Elgin Marital Debt Division Attorney Advocating Your Best Interests

When you consult with The Law Offices of James M. Kelly, you can expect to reach an experienced divorce attorney with a commanding understanding of Illinois family law. Having helped numerous couples divide both assets and debt in their divorces, James M. Kelly has the proven skills to assist you with your legal issues.

Often, conflict arises when determining the marital debt in the relationship. Marital debt includes debt that was incurred during the course of your marriage. This often includes:

  • Credit card bills
  • Mortgages
  • Medical bills
  • Car loans
  • Home equity lines
  • Business debt
  • Other loans

While marital debt is not always divided equally, the judge does try to make equitable decisions by taking into consideration several factors, including the length of the marriage, relative earnings or potential for earnings of both spouses, child and spousal support agreements, etc.

We can help you prepare for your debt division by identifying and examining your marital debt, your marital asset division and the respective income of you and your spouse. Depending on the amount of debt you owe and your unique circumstances, we may be able to explore bankruptcy as an option of relieving overwhelming marital debt, so you can have a fresh start after your divorce.

Learn more about how bankruptcy can help in your marital debt division by visiting our Divorce and Bankruptcy page.

Contact The Law Offices of James M. Kelly Today

We invite you to contact our lawyer to discuss financial issues of divorce at The Law Offices of James M. Kelly at 847-202-1616, or visit our Contact page, to schedule a free initial consultation regarding your family law or bankruptcy matters. We are located in Palatine, Illinois. We accept all major credit cards and offer flexible scheduling to suit your needs.