By Chris Kramer
If a couple has incurred any debt during marriage, the divorce court will consider it like assets and divide the debts between the spouses. Learn about what the divorce court considers when dividing debt and get advice about protecting yourself from your spouse's debt by speaking with a local divorce lawyer.
Protecting your financial future after divorce means understanding the division of debts and assets.
As part of the divorce process, the court will typically divide any marital debt equitably between the two parties. Any debt incurred before the marriage will also be addressed.
Usually, when one party is ordered to be responsible for a debt, the other spouse can not be pursued by creditors for the debt. If the responsible spouse defaults on the debt, the other spouse can use the divorce court's order to stop collections.
The division of the debts will also depend on the couple's finances. If child support and spousal maintenance are included in the divorce settlement, it may effect who is ultimately responsible for the marital debts.
With help from a local divorce lawyer, you can get advice about how to handle your finances during divorce. Start protecting yourself today from your spouse's debt by speaking to a divorce attorney about your options when it comes to joint accounts.
Connect with a local lawyer today by call 877-349-1310 or filling out a divorce case review form.