If your name is on a car loan or home mortgage you will continue to be held responsible post-divorce for those debts regardless of who the court orders to pay the debt.
Debt, Credit, Bankruptcy
No, an order regarding division of property cannot be modified based on a substantial change in circumstances. Unless appealed, these orders are final. Michele E. D’Onofrio is a family law attorney practicing in Warren, New Jersey.
What happens if the non-military spouse runs up a lot of credit-card debts in the military spouse’s name while the military spouse is deployed?
Sean Sullivan, an Illinois family lawyer answers the common question surrounding property division and debts, are they settled at the same time?
The answer is likely yes. Typically, domestic support obligations such as alimony and child support are not terminated as a result of bankruptcy. In other words, those obligations survive the bankruptcy. However, it may be that the bankruptcy provides grounds for a modification based upon changed circumstances. Diana N. Fredericks, a […]
DebtWave Credit Counseling, a nonprofit credit counseling agency in San Diego, answers: Many people are unsure of how to handle outstanding credit-card debt after a divorce. Going through a divorce can be messy, but there are neat guidelines that tell you which credit-card debts you are responsible for, which should be handled by your former […]
John J. Gilligan, a family lawyer in Long Beach, answers: The filing of bankruptcy does not discharge a child support order. Child support must still be paid by the bankrupt party in the amount set forth in the family law court order. John Gilligan is a founding partner at the family law firm offices of […]
Rosanne DeTorres, an Attorney from New Jersey, explores the financial aspects of divorce, including equitable distribution of assets and debts.
What happens in a case of shared debt? For instance, if one spouse started a business during the marriage and lost money, are both of the spouses equally responsible for that debt?
Once a couple has officially separated and live separately, can one spouse be held responsible for any new debts the other may incur or are they 100% responsible for their own new debts?