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Division of Debt When Pursuing Divorce

While the division of assets can often be a highly contentious process for divorcing couples, the division of debt can be a far more critical issue in regards to each individual’s financial health moving forward. As such, legal representation may be critical to each individual feeling as though they assume a fair proportion of the shared debts the couple held. By consulting with an experienced debt division lawyer in San Jose, you can rest assured that your interests will be well represented throughout the entire debt division process.

How Debt Is Likely To Be Divided

While most debts that a couple accrued together in the course of their marriage will likely be divided equally, there are some debts that are more likely to be assumed by a single partner, including the following:

  • Debts that were brought into the marriage by one partner
  • Debts that were accrued during a marriage
  • Debt responsibility that has been previously agreed upon

However, if one partner earns substantially more than the other, the higher earner could assume a greater degree of any shared debts.

Contact a Raleigh Debt Division Lawyer To Learn More

The Raleigh debt division lawyers at Marshall & Taylor PLLC understand how delicate the matters of debt division can be for a divorcing couple; we can help advise you toward a more amicable resolution while helping you secure your financial future moving forward. To discuss the particulars of how legal representation may be beneficial for you with one of our dedicated debt division lawyers today, please call (919) 833-1040.