Can You Be Held Accountable for Your Ex-Spouse's Debt?

Can You Be Held Accountable for Your Ex-Spouse's Debt?

Posted By R. Gregory Colvin LLC || 19-Apr-2016

Property division during a divorce is the process of deciding who gets what portion of marital or shared assets, and why. Most people will want to hold onto the family home or automobile, for example, but not many are hopping up to claim the right to keep their share of debt. And yet, debt division has to happen. The question is, “How will it happen in your divorce?”

Just as how a judge will hear arguments as to why you should keep a specific item or property after your divorce – “Your Honor, I worked full-time at our mom-and-pop shop and they only worked part-time; the business should be primarily mine.” – you can make your argument as to why you shouldn’t be held accountable for shared debts. This can be a pretty tricky proposition to make, as it might understandably look like you just want to save yourself money. To give your argument validity, you need to be prepared to back it up with proof of either your total separation of a debt, such as a reason as to why you never knew it existed in the first place, or proof of your ex-spouse’s financial negligence. Do you have a copy of a receipt that showed they spent a couple thousand of your shared assets on a new sound system for their car? Bring it to court!

Accruing Your Partner’s Debt Even After Divorce

Not all of the debt that falls into your lap will happen during the actual divorce, some of it can happen after the fact. If you have shared credit or bank accounts that remain after your marriage does not, you need to act fast to ensure your names are separated and new accounts are made. Creditors will not care if you were supposed to do that but forgot before your ex got to spending; they just know that you both owe them some money now. While you are handling your credit accounts, don’t forget to notify your utility suppliers of your divorce as well, so you don’t wind up paying part of their electric bill for months or years down the line.

To get to the bottom of your divorce and to make certain it is done correctly the first time, you can contact Orlando Divorce Attorney R. Gregory Colvin. With 25+ years of legal experience and a focus on client satisfaction, our firm can provide all the answers you need to get through this trying time. Set up your free initial consultation with our firm – we can even schedule for meetings on weekends!

Categories: Divorce, FAQ

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