Chicago Bankruptcy in Divorce Attorneys

Are You in Need of a Chicago Bankruptcy in Divorce Attorney?

Divorce can be one of the most stressful events in a person's life. When bankruptcy enters the picture, the stakes become even higher. Whether you're dealing with overwhelming debt, facing foreclosure, or unsure how bankruptcy will impact your divorce proceedings, these are complicated issues that require experienced legal guidance.

At Nottage and Ward, LLP, we focus exclusively on divorce and family law matters, and we understand the difficult relationship between bankruptcy and divorce. We help clients throughout Chicago navigate these issues with clarity to help protect your long-term interests. If you're worried about dividing marital debt, protecting your property, or deciding when to file, our legal team is here to help you make informed, confident decisions.

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Why Choose Us Over Other Chicago Bankruptcy in Divorce Lawyers?

When your future is on the line, you deserve legal advocates who are not only skilled in divorce law but also deeply knowledgeable about how financial crises like bankruptcy intersect with family court outcomes.

Here is what sets Nottage and Ward, LLP apart:

• Over 35 years of exclusive family law experience in the Chicago area – providing steady guidance through complex legal matters.
• Listed by Martindale-Hubbell in its Bar Register of Preeminent Lawyers – a distinction reserved for firms with the highest ethical standards.
• Trusted by clients for our personalized, practical, and effective strategies – tailored to protect their goals and long-term interests.
• Skilled in high-asset, high-conflict, and financially complex divorces – with a strong grasp of business valuations and asset division.
• Focused entirely on divorce and family law—not general practice – ensuring every case benefits from depth of knowledge and experience.
• Respected by the Chicago legal community for our integrity and results – consistently recognized for our professionalism and diligence.

Don’t Let Debt Complicate Your Divorce

Reach out now for guidance on how to protect your assets and move forward with confidence. Call our Chicago divorce lawyers at (312) 332-2915 to learn more today.

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How an Experienced Chicago Divorce Attorney Can Help

Filing for bankruptcy during or near a divorce adds significant complexity to an already emotionally charged process. An attorney with experience in both areas can:

• Help determine the best timing for a bankruptcy filing (before, during, or after divorce)
• Coordinate with your bankruptcy attorney (or bring in a trusted referral) to ensure legal strategies align
• Clarify how your debts and assets will be divided based on the impact of bankruptcy laws
• Advise on the treatment of exempt vs. non-exempt property, ensuring you retain the assets you’re entitled to
• Protect your rights during property division and spousal support determinations
• Ensure you comply with all legal disclosure requirements, avoiding costly mistakes or delays

We’ll work to prevent one spouse from using bankruptcy as a tool to avoid obligations, or leave the other burdened with unfair debt. With Nottage and Ward, LLP, you get more than legal support; you get a partner in preserving your financial well-being.

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Should You File for Bankruptcy Before, During, or After Divorce?

The answer depends on your specific circumstances, but here are general guidelines:

Filing Before Divorce:

• Often recommended for couples with significant joint debt
• Filing jointly can reduce filing fees and legal costs
• May simplify divorce by removing debt from the equation
• Works best when spouses can still cooperate financially and logistically

Filing During Divorce:

• Can complicate both proceedings due to automatic stays and court scheduling conflicts
• May delay divorce resolution or require coordination between courts
• Should be avoided unless absolutely necessary, especially without legal guidance

Filing After Divorce:

• Useful when debt division is complete but one spouse is still financially overwhelmed
• Allows more individualized financial planning post-divorce
• May be necessary if one party becomes solely responsible for joint debt

We help you evaluate timing, consider tax and credit implications, and develop a plan that protects your financial future.

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What Are the Impacts of a Bankruptcy During Divorce?

Bankruptcy can significantly influence how divorce proceedings unfold. It may:

• Pause your divorce temporarily if an automatic stay is triggered
• Shift responsibility for certain debts, especially if only one spouse files
• Affect property division, particularly regarding assets considered part of the bankruptcy estate
• Complicate spousal maintenance or child support decisions, especially in Chapter 13 cases with long repayment plans
• Delay final divorce settlements while the bankruptcy is processed

Bankruptcy doesn’t just clear debt; it changes the legal landscape of your divorce. The type of bankruptcy, timing of the filing, and whether one or both spouses are involved all influence the outcome.

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Why You Should See a Chicago Divorce Lawyer Right Away

Timing is critical in both divorce and bankruptcy. Consulting with a family law attorney early can make it easier to:

• Protect your financial interests by planning a strategy tailored to your situation
• Avoid common missteps, such as unintentionally giving up valuable property or complicating debt division
• Ensure proper coordination with a bankruptcy attorney, so filings don't conflict with divorce goals
• Help you understand exemptions, dischargeable debts, and how support obligations may be affected

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What’s the Difference Between Chapter 7 vs. Chapter 13?

The two most common forms of personal bankruptcy have very different implications during a divorce.

Chapter 7 Bankruptcy:

• Liquidation bankruptcy that clears most unsecured debts in a few months
• Typically used by individuals with limited income and few non-exempt assets
• Can discharge credit card debt, medical bills, and personal loans
• Does not eliminate child support, alimony, or certain tax debts
• May impact property division, especially if non-exempt assets are involved

Chapter 13 Bankruptcy:

• Known as a wage-earner plan, allowing debt repayment over 3–5 years
• Protects assets from liquidation but requires regular income to qualify
• Helpful for catching up on mortgage arrears or vehicle payments
• Support obligations must still be paid and may be factored into repayment plan
• Can cause delays in divorce finalization due to court oversight

Knowing which chapter to file is critical. Our team can advise you based on your marital and financial goals.

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Assets That May Be Exempt in a Bankruptcy

When bankruptcy is filed, not all property is lost., Illinois law allows exemptions that protect certain essential assets. Our attorneys will help ensure you understand which assets are shielded from creditors, and how exemptions affect the division of marital property in divorce.

Depending on the type of bankruptcy you choose, exemptions may include:

• Home (Homestead Exemption) – Up to $15,000 in home equity per individual (or $30,000 for married couples filing jointly) may be protected
• Vehicle – Equity up to $2,400 in one motor vehicle is generally exempt
• Spousal Maintenance and Child Support – Past-due or future payments you are owed may be protected from creditors
• Unemployment Compensation – Protected in most cases as a public benefit
• Retirement Accounts and Pensions – Often fully exempt, including IRAs, 401(k)s, and other qualified plans

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Division of Debt

In Illinois, marital debts are typically divided equitably, which doesn’t always mean equally. Courts consider factors like:

• Each spouse’s income and earning capacity
• Who incurred the debt and for what purpose
• Each party’s contribution to marital and non-marital property
• Whether the debt is tied to property one spouse is keeping

Bankruptcy can discharge certain debts for the filing spouse, but it doesn’t eliminate joint liability. That means a creditor may still pursue the non-filing spouse. We help you understand which debts remain, who’s responsible, and how to avoid being stuck with an unfair burden.

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Impact on Property Division

• Automatic stay rules, which can temporarily freeze divorce-related asset transfers
• Bankruptcy estate determination, which controls what property is available to creditors
• Exempt vs. non-exempt assets, which affect whether property remains in the marital estate or is subject to liquidation
• Timing of the bankruptcy filing, which can influence who retains what property

We work to ensure marital assets are accurately identified, valued, and fairly divided, without being compromised by bankruptcy proceedings.

Are You Facing Divorce and Overwhelming Debt?

Call Nottage and Ward, LLP today at (312) 332-2915 to discuss your options with a Chicago family law firm that understands bankruptcy’s impact on divorce.

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What Clients Are Saying About Us

Jeffrey is truly a great advocate- Laura (5-Star Avvo Review)

Jeffrey is an awesome attorney! He was a very strong, thorough, tough advocate for me at a very difficult time in my life. Not only was Jeffrey terrific at handling the current issues in my case, he also helped me think about and plan for my future life after the case. Jeffrey is truly a great advocate.

She has continuously looked out for my best interests-Anonymous (5-Star Avvo Review)

Leslie has been the strongest representation I could ask for in a very complicated emotional matter. She has continuously looked out for my best interests & the best interest of my son. Always prompt in getting back to me & keeping me well informed.

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Talk to a Trusted Chicago Bankruptcy in Divorce Attorney Today

Combining bankruptcy and divorce requires careful legal planning and thoughtful strategy. Missteps in either process can affect your credit, property rights, and financial security for years to come. At Nottage and Ward, LLP, we’re here to help you move forward with confidence.

Call us today to schedule a confidential consultation. We’ll help you:

• Understand your rights
• Protect your assets
• Plan your financial recovery
• Move through divorce and bankruptcy with clarity and confidence

Contact Nottage and Ward, LLP at (312) 332-2915 to find out how we can help.

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Frequently Asked Questions

Can I file for bankruptcy and get divorced at the same time in Illinois?

Yes, but doing both simultaneously can complicate matters. Bankruptcy may pause parts of your divorce due to the automatic stay. It’s often best to consult with an attorney to determine the right order based on your specific financial and legal goals.

Will filing for bankruptcy stop the divorce process?

Not entirely, but it can delay aspects of it, especially those related to property division and debt. The bankruptcy court takes control of non-exempt assets, which can temporarily limit what the divorce court can address.

Should we file for bankruptcy before or after divorce?

This depends on your situation. Filing jointly before divorce may reduce legal costs and clear debts ahead of time. However, if there’s a high level of conflict or complex financial entanglements, filing separately afterward might make more sense. We can help you evaluate the right approach.

Will bankruptcy erase all debts from my divorce?

No. Bankruptcy can discharge many unsecured debts, like credit cards or personal loans, but it will not eliminate obligations such as spousal maintenance (alimony), child support, or most court-ordered divorce settlements.

What happens to marital debts if only one spouse files for bankruptcy?

If the debt is joint, the non-filing spouse may still be responsible for the full amount. That’s why timing and coordination are so important. Our attorneys can help protect your financial interests and reduce post-divorce surprises.

Can filing for bankruptcy affect property division in my divorce?

Yes. The bankruptcy trustee may seize non-exempt property to pay creditors, reducing the marital estate available for division. This can impact negotiations and settlements, especially in high-asset cases.

Are retirement accounts safe in a bankruptcy during divorce?

In most cases, retirement accounts like 401(k)s and IRAs are protected under Illinois and federal exemptions, but how they’re divided in the divorce still matters. We can help ensure they’re handled properly under both legal systems.

What’s the difference between Chapter 7 and Chapter 13 in a divorce context?

Chapter 7 discharges many debts quickly but may require asset liquidation. Chapter 13 involves a repayment plan and lets you retain more assets. Choosing the right type depends on your income, assets, and goals during divorce.

Can bankruptcy help me if my spouse is trying to leave me with all the debt?

Yes, bankruptcy may help eliminate or reduce your personal responsibility for certain debts. However, strategic legal guidance is essential to avoid inadvertently taking on more than your fair share during divorce proceedings.

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Meet Our Chicago Bankruptcy in Divorce Attorneys

Leslie Fineberg

Leslie Fineberg is the Managing Partner of Nottage and Ward, LLP, where she brings decades of experience, a sharp legal mind, and a steady, compassionate approach to every family law case she handles. Since earning her J.D. from the University of Miami School of Law in 1991, Leslie has dedicated her career to family law and has built a reputation as a strong, honest, and highly skilled advocate.

Appointed as a Special Assistant Attorney General in multiple cases, Leslie is recognized for her ability to handle high-conflict divorces with precision and clarity. Clients who work with Leslie can expect honesty, preparation, and a strategy tailored to their long-term well-being.

Leslie Fineberg

Leslie Fineberg is a seasoned family law attorney and Client Service Partner at Nottage and Ward, LLP. With over two decades of diverse legal experience, Jeffrey brings a thoughtful, strategic, and results-oriented approach to every case. His work is grounded in thorough preparation, direct communication, and a deep understanding of how family law intersects with his clients’ personal and financial lives.

At Nottage and Ward, LLP, Jeffrey draws on this wide-ranging background to help clients navigate divorce, custody disputes, parenting time, support matters, and post-decree modifications. His courtroom-tested experience is matched by his practical, common-sense approach and his ability to see both the legal and emotional sides of every case.

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