Divorce and Bankruptcy

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Everyone knows that financial stress is a major cause of divorce, and therefore, we see many couples who have filed or already finalized a divorce prior to an initial consultation with us. By speaking to one of our attorneys, you can learn how filing a bankruptcy can discharge your debt, relieving your family’s financial stress, while providing your marriage with a second chance to grow without worrying about insurmountable credit card debt, etc.

Equally important, if saving your marriage is not your goal, then you should still understand that bankruptcy can oftentimes resolve financial issues in divorce easier and less expensive. If there is any chance of bankruptcy on the horizon following a divorce, then there are certain risks you should be made aware.

Do You Wish to Ease Your Financial Burdens to Avoid Divorce?

Depending on your financial circumstances, a bankruptcy can often relieve the numerous stresses caused by substantial debt. Many people do not realize (generally because divorce is a very emotional and stressful time preventing any person in a similar situation from thinking clearly) that if certain financial decisions or transactions could be undone, or if they no longer had to make ridiculous monthly credit card payments, or if they could have a more reasonable and realistic means to get caught up on house payments, then the financial stresses in their marriage could potentially be eliminated thereby intercepting and dismissing the hasty emotional and irrational reactions to seek divorce. Please contact us as soon as possible so that we may help you and your spouse.

Has Your Divorce Been Finalized?

If your divorce is final and you are now considering bankruptcy, whether the divorce was 6 months ago or 5 years ago, then you must understand that the marital settlement agreement you entered with your spouse or the judgment of dissolution of marriage (some refer to it as a divorce decree) may dictate the type of bankruptcy you need to file in order to get some of the benefits discussed in this website. You should contact our office as soon as possible to determine how your bankruptcy should be structured to receive the benefits bankruptcy has to offer.

Are You Strongly Contemplating Divorce or Currently in the Divorce Process?

VERY IMPORTANT: please read the following if you are considering or in the middle of a divorce. As a general rule, it is usually best to file a bankruptcy before a divorce is made final. A married couple can file a joint bankruptcy even though a divorce may be finalized before the bankruptcy is complete. After reviewing the facts and choices of each spouse, it may be best that one spouse files a Chapter 7 bankruptcy and the other spouse a Chapter 13, or any variation of the two types of bankruptcies—it is possible that only one spouse files for bankruptcy and the other does not. In most divorces, the spouses fight over the children or financial issues. Divorces in which one spouse or the other has accumulated enough debt to consider bankruptcy, the financial issues could be resolved easier, faster and cheaper simply by filing bankruptcy. Again, you should speak to a bankruptcy attorney about these benefits and how they apply in your particular situation.

Important Disclaimer: The information discussed above and throughout this website should not be relied upon to make any decisions without first speaking to a bankruptcy attorney. There are many intricate rules of law governing bankruptcy with many exceptions to the general rules that could change the advice given by an attorney based on the differing facts in each person’s special set of circumstances. THEREFORE, it is important to discuss any information contained in this website with one of our attorneys before taking any action or refraining from taking any action.

Is Bankruptcy the Right Choice?

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Coronavirus: Our Office And Your Safety

Our Offices In Illinois And Missouri: Our offices will continue to remain open to serve all our current
and future clients as we, as attorneys, have sworn an oath to uphold! A Bankruptcy Law Firm, LLC provides
legal and financial services in which Illinois and Missouri have deemed our law offices essential business
activities. Michael J. Benson is committed to ensuring each and every client is being responded to as
immediate as possible, please read below to help our law firm be more efficient so that we may help
EVERYONE with ALL your questions and concerns, especially during these uncertain times.

Precautions: Until the “Stay at Home” Orders have been lifted our offices are functioning 100%.
However, for the safety of you and our employees we are limiting in-office appointments to only those
appointments absolutely necessary, and we are timing appointments so that there will be only ONE client
in the office at any particular time. Therefore, we need your help, patience and understanding to achieve
this goal. We ask our clients to minimize their movements within our offices upon your arrival and to
refrain from using the restrooms at this time. Further, we are disinfecting the waiting area and the office
where your appointment will be held to the best of our ability in between each and every client.
Current Clients: At this time, we are conducting ALL appointments with current clients via telephone
or email communication. Michael J. Benson prefers to give personal attention to each and every client
and to meet his clients personally as much as possible throughout your entire case. However, safety
comes first during this pandemic, and therefore, we will not hold in-office appointments. Further, we
kindly ask clients to not arrive at the office unannounced as this may cause more than one client in the
office at a given time and jeopardize the safety of others—PLEASE respect the safety of others! In regards
to turning in required documentation for your case, please call the office to coordinate.
New Clients: We are still meeting with new clients who have bankruptcy questions now more than ever.
We will meet with you in person and our goal is that you will be the only client in the office at a given
time. If you believe you may have coronavirus symptoms, tested positive for coronavirus or if you are an
at-risk person, then please let our office know and we can schedule a phone consultation so that you can
still receive answers to your questions and concerns.
Phone Calls And Voicemails: Please understand that our office, like every business, is experiencing
an extraordinarily high volume of calls during this time. Again, our office is 100% committed to responding
to our clients as fast as humanly possible. WE NEED YOUR HELP – if you call the office, please leave a clear
voicemail with your name and best contact number and give a precise reason for your call. If you give us
an idea why you are calling, then you will get a quicker answer and it will enable us to be more efficient
so that we can answer more phone calls in the same amount of time so that we can give our clients the
best possible legal care!