Allocation of Debt

Schaumburg, Illinois Marital Debt Division Attorneys

Fighting To Protect Your Rights in Divorce and Family Law Matters Cook, DuPage, and Kane Counties

Many individuals contemplating getting a divorce realize that the issue of how to divide marital assets must be addressed, but some do not also realize that marital debt is another issue that comes up. Any debt incurred by a couple during their marriage is considered marital debt in the same way that assets acquired are considered to be marital assets that must be divided. This includes anything charged on credit cards, mortgages, loans, real estate, etc.

However, an experienced attorney can help ensure that any debt that was not incurred for marital purposes is not included allocated as your debt. At Glasgow & Olsson of Schaumburg, Illinois, we strive to create an atmosphere of calm in a time of stressful legal matters. Drawing on a combined legal background spanning five decades, our attorneys provide a comprehensive approach to complex divorce issues such as the division of marital assets and debts.

Illinois Law

In dividing marital debt (mutual credit card statements, other bills, loans, etc.), the court will try to divide it based upon what is “equitable.” However, under state law, a couple is not liable for debts incurred by each other prior to marriage, as well as “separate debts of each other.” In deciding on what is marital property and debt, the court will take the following factors into account:

  • The economic circumstances of each person;
  • Education and employability;
  • Child custody;
  • Standard of living established during marriage; and

Separate debts can often include any gambling debt that one spouse incurred, as well as any reckless spending that did not benefit the marriage.


An experienced attorney can help you if you are faced with questions and/or issues surrounding marital debt as it relates to family law. It is entirely possible that you and your ex may be able to come to an amicable agreement concerning asset and/or debt division; however, if you are splitting the debt, it is typically ideal to ensure that legal professionals are involved so that you ensure you do not end up being liable for a debt that your ex fails to pay years from now. The last thing that you want is to be hounded by creditors either because the debt has not been properly allocated or the because the language releasing you from the debt (if it is not paid off) has not been properly crafted as part of the divorce process.

Marital Debt Attorneys on Your Side

If you are facing divorce and will have to address the allocation of marital property and debts, knowledgeable legal counsel can help ensure that justice is achieved, providing equitable solutions during a challenging time.

Whether you are going through or anticipating a divorce, we can help guide decisions to seek the best possible outcome now and for the future. Contact our office today; we serve clients throughout Cook, DuPage and Kane Counties. Our offices are located in Schaumburg, Illinois, and we serve clients in Barrington, Barrington Hills, Geneva, Hoffman Estates, Rolling Meadows, Palatine, Wheaton, and throughout Chicago.