After the divorce, who is responsible for debts both spouses took on during the marriage? What about debts signed for in only one spouses name?
The divorce judgment will indicate who is responsible for each debt. Joint debts may be divided equitably as part of the property division, or may be assigned to one spouse or the other. Debts incurred by one spouse alone are treated as their separate responsibility, except where the debts were incurred for “family expenses.” These include things such as medical bills, household goods, educational expenses, etc. The rationale behind this rule is that the entire family benefitted (not only the debtor spouse) and should share in the responsibility for the debt. Debts incurred after physical separation (i.e. after a party moves out) are the responsibility of the person who incurred them, unless the debts are related to the parties’ children. In these situations, a court may extend liability to both spouses. But if the court does not have authority over the person to whom the money is owed, i.e. credit card company, the fact the divorce court orders your spouse to pay a debt which also is
Related Questions
- Can one spouse prevent the other spouse from obtaining a divorce if the first spouse does not want to be divorced and wishes for the marriage to continue?
- After the divorce, who is responsible for debts both spouses took on during the marriage? What about debts signed for in only one spouses name?
- How is the debt incurred during the marriage divided?
