Divorce & Bankruptcy

Divorce is one of the main factors that leads to bankruptcy. In many cases, divorce and bankruptcy go hand in hand. If you are considering bankruptcy and also facing a divorce, it is important to have counsel from an experienced bankruptcy lawyer.

At Ledford, Wu & Borges, LLC, our bankruptcy attorneys have more than 50 years of combined experience. We can help you navigate the tricky legal terrain of bankruptcy when it is accompanied by divorce.

Divorce Your Debt

How does bankruptcy relate to divorce? In many cases, debt problems can cause marital tensions. Also, people who have gone through divorce can face financial pressures that put them deep in debt, making bankruptcy a viable option.

The important thing to remember in regard to bankruptcy is timing. When you file for bankruptcy in relation to when you file for divorce can have a significant impact on your financial future.

Many couples decide to file for bankruptcy before filing for divorce. This way, the debt problem is resolved and does not have to come into play in property division arrangements and other aspects of divorce. In short, you are divorcing your debt before you are divorcing your spouse.

Another advantage of filing for bankruptcy before divorce is that only one spouse of a married couple may have to file. If you wait until after you are divorced, you may both have to file separately, resulting in twice the fees and costs.

Our experienced bankruptcy attorneys can help you get the timing right as you prepare for bankruptcy and divorce. We are focused on helping you achieve your debt relief goals and helping you enjoy a bright financial future.

Contact The Leading Chicago Bankruptcy Attorneys at Ledford, Wu & Borges, LLC

Contact our offices online or call 312-574-3327 to find out what you need to know about divorce and bankruptcy. Our experienced Illinois bankruptcy lawyers are ready to help.

Ledford, Wu & Borges, LLC has offices in Downtown Chicago, the South Side of Chicago, Homewood, North Riverside/Berwyn, the Northwest Side and the Southeast Side.

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