"What exactly do divorce decrees cover, as far as liabilities for existing debts are concerned?"
Debts that were obtained in the name of both spouses before a divorce (meaning both husband and wife signed a document or application saying that they were responsible for the debts remain the obligations of both parties after a divorce, no matter what a divorce decree says. Therefore, if your ex-spouse does not pay a debt that he/she was assigned in a divorce decree, then YOU are responsible for it. Be aware:
Conni Murphy is a Senior Mortgage Consultant with Washington Mutual.
Certified Divorce Financial Analyst
Business Valuators / CPAs