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Goldman Law Offices

Dividing debts in a divorce can be complicated

Pennsylvania couples whose marriages are ending will likely find that one of the more complicated issues is often property division. They may also come to realize that dividing up debts can be just as stressful. Having some idea of how to split debts before divorce proceedings get under way may simplify the process. Couples contemplating a divorce need to put together a complete picture of their finances before decisions are made.

The division of credit card debt is one issue that many divorcing couples face. If the credit card is in only one spouse's name, many courts will allocate the debt to the person whose name is on the card. Mortgage debt can be even trickier. The courts may award the home mortgage debt to the spouse who makes the most money or the spouse who gets custody of the children. If the spouses choose not to sell the house, then one will likely need to buy out the other out.

Medical debts may also need to be divided. In a state such as Pennsylvania that follows the principle of equitable distribution, the obligations may be allocated on the basis of the couple living together when the debt was incurred and how the debt affects the couple's children, among other factors.

Dividing assets and liabilities is an important step in the divorce process, and it will be determined by a court unless the couple has otherwise been able to come to an accord on this issue. A person who is going through a divorce and who would like to negotiate a property division agreement that can meet with the approval of the court may wish to obtain the assistance of a family law attorney.

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Goldman Law Offices

90 E. State Street
Doylestown, PA 18901

Phone: 215-348-2605
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