It can be difficult figuring out how to survive financially after divorce. Take control of your finances by using the following tips.
Debt and Divorce
How does the Ontario Family Law Act protect people from debts incurred though crime during a divorce? Read on to find out.
It’s virtually impossible to get student loan debt discharged in a bankruptcy, so you’re stuck with it – which can exacerbate your other marital issues. In fact, more than a third of student loan borrowers claim that debt contributed to their divorce.
Following a divorce, parties must determine the division of both assets and debts – including any debt consolidation loans that may have been received during the marriage.
Making a budget and stopping impulse shopping are just two ways to save money after divorce. It’s a good start – but you still have a way to go!
Handling finances when married is hard enough. Adding separation into the mix can make financial management even more difficult. Before you and your spouse begin splitting finances during separation, keep the following advice in mind.
Don’t leave money on the table during divorce! By understanding property division on divorce, and knowing what property can and cannot be included in the marital estate, you will have a better chance of getting your fair share.
After filing for divorce, expect several financial issues to come up during the divorce process and even afterward. These steps will help lead you towards a more secure financial future.
The decorations have all been packed away, and all that’s left of the holidays are the bills. Is it time to start worrying about how you’re going to cover your debts?
Even after you’re legally separated, there may be lingering financial ties that bind you together. You risk serious ramifications if you and your spouse don’t discuss how to handle the debt after the separation.