If you don’t address your debt during your divorce the issue will never be resolved. Few couples spend years together without establishing credit card debt, mortgage, loans for furniture etc so it’s not always about dividing assets and savings.
Many times the main sticking point with the breakup is dividing the debt. Deciding who will pay what and when the debt will be paid for. Ending your marriage can have terrible financial consequences for both parties involved if you don’t hire an experienced San Antonio Attorney experienced enough to handle complex financial issues.
Debt In Only One Spouse’s Name: Let’s face facts, creditors will not consider a decree ordering your ex to pay the debt as a reason to forgive your responsibility. This huge gap between family courts and creditors is something that hurts a lot of individuals. Don’t be fooled, don’t let yourself be lied to and accept the fact that if the debt is in only your name, then you will be responsible for it.
Debt In Both Names: This can be a complicated matter, but if both parties are responsible an experienced legal professional like myself can easily divide the debt, schedule pay off dates and keep this from becoming an issue that complicates your dissolution of marriage.
On the other hand, if you have concerns your ex is someone who doesn’t pay his/her bills you need to make us aware of that right away. Negotiations are pointless, when one spouse has a history of not paying his/her debts.
This article is published by on 2016-01-13 Find us on Google+