What You Need to Know About Dividing Debt in a Divorce

What You Need to Know About Dividing Debt in a Divorce

If you are someone who is currently going through the divorce process or you are about to, you are most likely very concerned about how your assets may be divided in your divorce. While the equitable distribution process will determine who gets to keep which assets, the equitable distribution process will also determine which spouse will be saddled with the debt the other spouse accrued. The most common type of debt spouses have to deal with in divorce is credit card debt. Read on and reach out to our knowledgeable California divorce attorneys to learn about dividing debt in a divorce and how our firm can help you through the legal process ahead.

Dividing Credit Card Debt in California | Who’s Responsible?

Credit card debt is extremely common among spouses, so it is only natural that it’d be a question of who will have to pay off that debt when the couple gets divorced. Typically, any credit card debt in your name will be your responsibility to pay off, even if your spouse is the one who used the card for certain purchases. If this debt goes unpaid, there is a chance that you may be sued by your creditor. That being said, you should understand that at times, dividing credit card debt can get quite confusing in California, as California is a community property state, as opposed to a common-law state.

How does a community property state approach dividing credit card debt in a divorce?

A community property state takes a unique approach to dividing debt. In a community property state, spouses who acquire debt after they were married but before they were separated are equally liable to pay off the debt accrued over the course of their marriage. You should also understand, however, that in most cases, when debt is accrued by one spouse prior to their marriage, the other spouse will most likely not be responsible for paying it off.

Typically, when a couple gets divorced in California, the judge will order both spouses to contribute to paying off the debt. The judge’s final determination is a legally binding document. If you find yourself in a situation where you have debt in your name, it is critical that you reach out to a seasoned Los Angeles divorce attorney as soon as you can. We are on your side.

Contact our experienced Los Angeles firm

Divorce and family law issues are notoriously complicated and personal, which is why you must hire an attorney with years of experience, as well as the compassion and skill needed to handle these sensitive matters. For the qualified, dedicated legal representation you and your family deserve and need, contact Zitser Family Law Group, APC today.

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