CHICAGO: It's probably not surprising that bankruptcy and divorce tend to go hand in hand. With so much else wrong in the system--low interest, falling home prices, unemployment, underemployment, student loans, lack of insurance--problems always tend to stack up on one another. But bankruptcy and divorce have a special relationship, as anyone reading up on Bankruptcy Advice should be aware of.
There are generally two ways they interact. Bankruptcy stems from debt and financial uncertainty and stress. Coincidentally, financial troubles are one of the foremost predictors and causes of marital troubles. Men draw a huge amount of self confidence and self image from their financial security and accomplishment. To lack it often eats at their confidence, their sex drive, their passion. Women, on the other hand, can come to view an unemployed or dead-end spouse struggling to make ends meet as a lay-about, even if they are trying. By the time even the most qualified and compassionate Illinois bankruptcy lawyer is involved the damage may have gone too far.
On the other hand many marriages fall apart for who knows how many reasons. Infidelity, personal entitlement, changing priorities, feelings of neglect, childlessness all can push a couple apart whether the split be amiable or vicious. However, even if both parties are employed they may find that without each other their expenses jump to unexpected heights. It is easier for two people to split rent, to eat together, to have furniture, and to use the same services than it is for each to pay for the same separately. Essentially divorce means that each party halves their income, and when people fully grasp that (since personal debt is NOT halved in a divorce) they often start looking for Bankruptcy Advice.
There is some progress to speak off. In the past one of the major issues at the cross between bankruptcy and divorce was child support and spousal support. It used to be that declaring a chapter 7 bankruptcy actually allowed people to first suspend and then disregard their responsibility to their ex-familial dependants--a huge abuse of the system. Fortunately in 2005 President GW Bush signed a number of laws (specifically the Bankruptcy Abuse Prevention and Consumer Protection Act) to adjust the bankruptcy code, ensuring that child support could no longer be dodged by a sly filer. The Automatic stay (which stops collection attempts when you declare bankruptcy) therefore no longer applies to school loans, mortgages, taxes, OR domestic responsibilities.
Regardless of the details of your personal situation, if you are going through a divorce bankruptcy mix in Illinois don't contact any lawyer, find a great one who will be able to help you through this difficult experience and get your life back in the financial clear.
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