Love, Marriage, And Bankruptcy

More and more couples are having a tough time with marriage because of money. Money problems are one of the primary reasons for divorce, and plenty of people get wounded in the heart as well as the wallet in such situations. Bankruptcy is a solution for some couples; in the Chicago area, you should speak promptly with an experienced Chicago bankruptcy lawyer if you are considering a bankruptcy procedure or want to learn more. In many cases, however, married couples can work through money problems with good marital and financial counseling. Here are some of the more common financial scenarios that married couples can face:

1. Spouses who argue about how their partners spend money may need to seek the services of a marriage counselor or spiritual advisor. There may be an underlying relationship issue entirely unconnected to money, such as one spouse spending needlessly to “get back” at the other spouse. If the financial problems are real, get counseling and start working as a team to fix the problem.

2. Marital conflict doesn’t always accompany money problems in marriage. Some couples are still so “in love” that they wildly overspend on expensive gifts, vacations, and the overpriced home that the other spouse “deserves.” These couples can pull themselves out of a money disaster with good financial planning and a commitment to living according to their means.

3. Some couples feels compelled to keep up with their peers and neighbors – to “keep up with the Joneses” – but a large amount of debt can cause real stress and significant problems in a marriage. Good financial planning is one key, but so is a frank reassessment as to how your spending got out of control to begin with.

These situations are serious. They require some work, but solutions are usually available. Some cases may require bankruptcy. Consult with an experienced Chicago bankruptcy lawyer right away if you’re in the Chicago area to learn more about the bankruptcy process and the alternatives.