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Allocation of Debt

The Complex Process of Debt Allocation

For clients who come to Susan E. Kamman & Associates, allocation of debts and obligations is as important as the division of valuable property. Assigning responsibility for debts is an important step requiring an experienced advocate willing to perform the necessary due diligence.

We respect the fact that clients are putting their futures into our hands. They need an attorney they can trust during emotionally charged times. With that in mind, we focus on their best interests both now and after the divorce is finalized at Susan E. Kamman & Associates.

Identifying the Facts and Sources of Debts

In most divorces, the most significant asset and greatest debt is the family home and any monies owed on the property. It is more complex when the residence is in the names of both spouses. For joint debt, both parties are especially liable to the lenders, even if the divorce judgment specifies otherwise. A bankruptcy or late payment by your former spouse on jointly titled debt can destroy your credit.

One spouse may own a business that is struggling to make money. Tax preparation handled solely by your spouse could wreak havoc on your post-divorce financial future. Susan E. Kamman & Associates will address these complicated debt allocation and tax issues, including innocent spouse relief under Federal and state tax laws.

In these complicated property division matters, some clients need an aggressive trial lawyer, while others require a skilled negotiator. Susan E. Kamman will tailor her techniques and strategies to your specific needs.

Contact Our Law Firm Today

To schedule a one-hour consultation with Mrs. Kamman, call 847-241-4156 for an appointment in Lake Zurich or Antioch. You can also contact us online.

Visa and MasterCard are accepted. Flexible scheduling is available by request.