Who Is Responsible for Debt in a Florida Divorce?
Divorcing parties frequently encounter misunderstandings and hostility when it comes to debt distribution. The division of debt is important not just when a marriage ends, but also in the years that follow.
You and your partner could have a mortgage that is underwater. You might not be aware that one spouse amassed thousands of dollars in credit card debt. The old automobile has been paid for, but not the new one.
Situations like these are common and cause major arguments. Most marriages will have some sort of debt, and many divorces involve challenging economic situations. If you can’t agree on who is responsible for what, the court will decide for you. (more…)