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PostPosted: February 23rd, 2004, 10:54 am 
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Joined: August 1st, 2003, 9:52 am
Posts: 1874
This was sent anonymously to Angela. Please post your advice here.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

This question was sent in by a woman who is experiencing mental abuse and who says she can't afford to live on her own.

How are debts usually handled during a divorce?


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PostPosted: February 23rd, 2004, 10:56 am 
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During my divorce, we both agreed to take responsibility for whatever credit cards were in each other's names. The debt was pretty much even. He took his car and his debt; my car was an old beater and had no payments due.

However, your attorney will probably fight to have the debt split based on a percentage of the income. For example, if your husband contributes 80% of the household income, he may have to take 80% of the debt. But, if you keep the house, you may have to take on that monthly payment until the house is sold (he'll then probably get to keep half of the profit).

It really depends on each person's financial position and income or potential income.


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PostPosted: February 23rd, 2004, 4:09 pm 
Is that true in all states?


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PostPosted: July 12th, 2004, 12:27 am 
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Joined: July 11th, 2004, 3:54 pm
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Lord have *mercy* ... from experience, have the debts lined out in a separation agreement!

My husband "agreed" to take some of the bills and I agreed to take others. We had a car and several joint credit cards. When he didn't pay, guess who had to pony up. (And the credit companies didn't care who agreed to pay what.)

The collection attoreny assigned to my case with Ford Motor Credit told me about the separation agreement. Too bad I didn't know beforehand. Hope it's helpful in your circumstance.

_________________
When I hear somebody sigh, 'Life is hard,' I am always tempted to ask, 'Compared to what?'. --Sydney Harris


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PostPosted: July 12th, 2004, 12:50 pm 
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Joined: January 13th, 2004, 4:38 pm
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There is nothing that is true in all states and there is nothing that is true for all cases. Each divorce is different and the way the debts are handled is dependent entirely on how YOUR attorney negotiates it for YOU! You can get an idea of how typical cases go, but in the end it comes down to what gets negotiated.

Remember: internet legal advice is worth exactly what you pay for it--nothing.


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 Post subject: How are debts...
PostPosted: September 9th, 2004, 5:34 pm 
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Joined: September 9th, 2004, 2:31 pm
Posts: 6
Location: Rocky Mountains, CO
I do not think it makes any difference what you have in an agreement or decree. If the irresponsible one won't pay, the responsible one will. You certainly should try to have it all spelled out with a lawyer, just in case a miracle happens and the irresponsible one should suddenly grow up. However, in my case he won't pay and I have just accepted the financial wasteland that follows divorce. I live without credit until I can get it paid off. However I learned with my child's medical bills to find people who will be willing to bill him for half and not pay up front and wait for him to pay his half. Not gonna happen. I thank God child support laws are so good. Still, I try not to depend on it. Blessings to all going through this difficult time in life.


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PostPosted: September 10th, 2004, 12:03 pm 
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Joined: April 29th, 2004, 8:49 pm
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Location: God's country
Yes, Lord have mercy!! Learn from my mistakes...when I divorced the attorney assigned him the credit card debt and I took something else. HOWEVER HOWEVER HOWEVER he hever closed out those cards and used them for the next 12 years that had my name on it too then filed bank ruptcy! I was remarried by then and we were trying to get a loan to open a shelter for abused women when I found this out! I could have hunt him down and killed him. If you are ending credit cards with them, YOU CLOSE THEM OUT, YOU MAKE THE CALLS to make sure they are closed out, and revolving accts at dept stores, anything. Even though its more work for you, you will at least know it's done.

Also, yes/yes/yes get all debt divided up in the seperation agree. Keep a copy to send to debtors. Although they can still hold you responsbile if it was a joint acct and he doesn't pay. Same with IRS!!! EEEKKK! That happned to my girlfriend when her husband the DOCTOR didn't pay his taxes and they come after her and her little income. Man, this is a whole reason to never marry, isnt it????


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