On behalf of The Walters Law Group, Ltd. posted in Divorce on Wednesday, April 3, 2013. Simply getting a divorce has no impact on the credit ratings of Illinois residents, but financial changes associated with splitting up a marriage can lead to lowering an individual’s credit score. This is why people who are considering a divorce should be proactive about tracking their credit score and splitting up finances as quickly as possible. The first thing that those considering divorce should do is get a copy of their credit score. This will tell them whatContinue reading
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Police arrest man allegedly $80,000 behind on child support
On behalf of The Walters Law Group, Ltd. posted in Child Support on Saturday, March 30, 2013. Cook County officers were finally able to track down a Chicago father who had reportedly failed to pay any child support since sometime in 2004. Records show that he is currently behind in child support payments by $79,687. This amount seems to have accrued due to his complete failure to make any payments in over an eight-year period. Police officers received a tip that the 55-year-old man was residing on South Kolin Avenue’s 5600 block. They visitedContinue reading
Divorce typically has multiple financial side effects
On behalf of The Walters Law Group, Ltd. posted in Divorce on Thursday, March 28, 2013. According to financial advisors, many individuals who get divorced fail to understand how much of a long-term impact the process can have on their financial status. Divorces may directly change the lives of many Chicago families and their assets, but they also affect their incomes and taxes later on. After people divorce, they return to single tax filing status, which usually represents a higher income tax rate. In modern times, such changes may affect men and womenContinue reading
Most divorces benefit from aid of attorney
On behalf of The Walters Law Group, Ltd. posted in Divorce on Wednesday, March 20, 2013. When a couple in the Chicago area decides to end a marriage, there are many matters that must be addressed. Often one of the biggest issues is how assets will be divided. Depending on the individual, this can be overwhelming. That sense of overwhelm can cause some, in an effort to save some money, to try to manage the divorce themselves, without the assistance of a lawyer. While there are of course occasions where this may work outContinue reading
Older couples divorcing at increasing rate
On behalf of The Walters Law Group, Ltd. posted in Divorce on Wednesday, March 13, 2013. While perhaps not the demographic that most often comes to mind when one thinks about divorce, those over the age of 50 are nonetheless seeking to end marriages at an ever increasing rate throughout the nation, including the Chicago area. Currently, 1 in 4 divorces filed involves individuals in that age group. Over 20 years ago, that number was only 1 in 10. While there are a variety of reasons people of all ages decide toContinue reading
Is keeping a house after a split a good idea?
On behalf of The Walters Law Group, Ltd. posted in Divorce on Wednesday, March 6, 2013. As anyone in the Chicago area who has gone through a divorce knows, there are many adjustments that need to be made as a result of the process. While exactly what those adjustments are varies from divorce to divorce, a common issue for many is who, if anyone, will be able to keep the marital home. Perhaps not surprisingly that determination depends the finances of the parties involved in the split. The first thing that needs toContinue reading
Divorce filings increase after Valentine’s Day
On behalf of The Walters Law Group, Ltd. posted in Divorce on Friday, March 1, 2013. Valentine’s Day usually represents love and romance. More recently, however, it may also represent the calm before the storm. The day after Valentine’s Day has become one of the busiest days for divorce attorneys and the increase in divorce filings has made February become one of the most popular months for people to file for divorce. Why would Valentine’s Day contribute to more divorce filings? Studies suggest that many couples who are considering filing for divorce wait toContinue reading
Excessive consumption of alcohol tied to higher rates of divorce
On behalf of The Walters Law Group, Ltd. posted in Divorce on Wednesday, February 20, 2013. There are many reasons couples throughout the Chicago area decide to end their marriages with a divorce. Commonly cited reasons include disputes over the way that money is handled, infidelity or simply growing apart. According to a recent report, the amount of alcohol each spouse uses could have a bearing on whether a heterosexual marriage survives as well. The report, which was published in an issue of Alcoholism: Clinical & Experimental Research, followed almost 20,000 married couplesContinue reading
Man behind in child support told to stop having kids
On behalf of The Walters Law Group, Ltd. posted in Child Support on Friday, February 15, 2013. Most are probably aware that there are consequences for not paying child support amounts ordered. Recently we wrote about several Chicago area residents who were arrested for failing to do so. A judge in another state has taken extreme measures in response to the nearly $100 thousand a man owes in regard to his four children. The judge ordered the man to not have any more children as a part of the probation he willContinue reading
Couples’ games unhealthy for kids of divorce
On behalf of The Walters Law Group, Ltd. posted in Divorce on Wednesday, February 13, 2013. Divorce is not easy for anyone one, but when Chicago couples have kids there’s a little more to worry about. When people are hurt and disappointed about the failure of their marriage, it can be hard for parents not to reveal some of the sour feelings they have been nursing toward their ex-spouse. Still, it is important that parents do their best to try and keep things civil during times when crossing paths is unavoidable. SomeContinue reading