312-332-2915 Email Us
blog home Divorce Custody and Credit Issues to Consider Before Divorce

Custody and Credit Issues to Consider Before Divorce

By Nottage and Ward on August 26, 2011

This blog post continues our discussion of important financial issues that anyone facing divorce should reflect upon, particularly with the counsel of a highly trained lawyer that has experience with family law. It can be an unwise decision to begin the divorce process without taking these factors into consideration.

Your Credit Score

If you do not have a good credit history, it may be worsened by a divorce. To open a credit card, rent an apartment, or even interview for some jobs a credit report is often needed. Depending on how damaged your score is, you may not be able to live to the standard of living you were accustomed to prior to the divorce. Depending on the situation, it may be worthwhile to wait for some time to divorce, if the split is amicable, in order for you to work on increasing your credit score. In some cases, if one party has serious credit damage, it may be in their best interests to attempt to negotiate to keep the house or vehicle so they do not have to face creditors any time soon.

Non-Adult Children

If minor children are involved, a divorce may become even more complicated. Custody and visitation rights will need to be settled, and financial support arrangements will have to be implemented. You and your soon-to-be ex-spouse will have less combined income with which to support your children, since you will both now have living costs separate from one another. There are other important financial aspects to consider if one or more of your children will soon go to college. However, one benefit of the divorce may be that your children could be eligible for student loans and grants that otherwise may not have been previously eligible for.

If you are considering divorce in Illinois, you may wish to consult with a Chicago divorce attorney to learn more about the process and how it could change your financial situation. Contact the lawyers at Nottage and Ward to find out more by calling 312-332-2915 today.

Check back with our blog for the conclusion of our three-part blog series.

Related Articles:

We are proud sponsors of Little Black Pearl Art and Design Center.

To learn more, click here.

Proud Member of Friends of the Chicago River.

To learn more, click here.

Client Reviews

5 Leslie has been the strongest representation I could ask for

Leslie has been the strongest representation I could ask for in a very complicated, emotional matter. She has continuously looked out for my best interest and the best interest of my son. She is always prompt in getting back to me and in keeping me well informed about my case.
-

Read More Client Reviews

We have the experience.

We are knowledgeable about financial issues. We are experienced in child custody problems and sensitive to the overall needs of the client.

We have the experience to negotiate complex financial issues. The brain trust to maneuver contentious divorce litigation. And the sensitivity and skill to resolve highly charged custody issues.

Contact Us

Where We
Practice

Our practice is concentrated in Cook, DuPage, Lake, Will, Kankakee and McHenry counties.

Nottage and Ward, LLP  | 
10 N. Dearborn, 11th Floor, Chicago, IL 60602

Chicago Illinois Divorce Attorney Disclaimer: The legal information presented at this site should not be construed to be formal legal advice, nor the formation of a lawyer or attorney client relationship. Any results set forth herein are based upon the facts of that particular case and do not represent a promise or guarantee. Please contact an attorney for a consultation on your particular legal matter. This web site is not intended to solicit clients for matters outside of the state of Illinois.

Site design by Two by Four.
Build and Marketing by SLS Consulting | Blog Sitemap