In a divorce, dividing debt is just as important as splitting assets. Hereโs how it works:
Marital vs. Non-Marital Debts
- Marital Debts: These are debts incurred during the marriage, like mortgages, credit card balances, or car loans. They are generally split fairly between spouses, regardless of who incurred them.
- Non-Marital Debts: These include debts incurred before the marriage or after separation, such as student loans or individual credit card bills. These are typically assigned to the person who incurred them.
How Debts Are Allocated
The court considers factors like the length of the marriage, each spouseโs financial situation, and contributions to the marriage to decide how to divide debts fairly.
Why You Need a Lawyer
A lawyer can help you determine which debts are marital or non-marital and protect your interests.
If you need help with debt division in a divorce, Kranitz, Sadoun & Carpenter, P.C., a law firm in St. Joseph, Missouri, can guide you through the process and protect your financial future.
Schedule a consultation with Kranitz, Sadoun & Carpenter, P.C. online to discuss your legal options with a professional.
๐๐ฉ๐ฆ ๐ค๐ฉ๐ฐ๐ช๐ค๐ฆ ๐ฐ๐ง ๐ข ๐ญ๐ข๐ธ๐บ๐ฆ๐ณ ๐ช๐ด ๐ข๐ฏ ๐ช๐ฎ๐ฑ๐ฐ๐ณ๐ต๐ข๐ฏ๐ต ๐ฅ๐ฆ๐ค๐ช๐ด๐ช๐ฐ๐ฏ ๐ข๐ฏ๐ฅ ๐ด๐ฉ๐ฐ๐ถ๐ญ๐ฅ ๐ฏ๐ฐ๐ต ๐ฃ๐ฆ ๐ฃ๐ข๐ด๐ฆ๐ฅ ๐ด๐ฐ๐ญ๐ฆ๐ญ๐บ ๐ถ๐ฑ๐ฐ๐ฏ ๐ข๐ฅ๐ท๐ฆ๐ณ๐ต๐ช๐ด๐ฆ๐ฎ๐ฆ๐ฏ๐ต๐ด. ๐๐ฉ๐ช๐ด ๐ฑ๐ฐ๐ด๐ต ๐ด๐ฉ๐ข๐ณ๐ฆ๐ด ๐จ๐ฆ๐ฏ๐ฆ๐ณ๐ข๐ญ ๐ช๐ฏ๐ง๐ฐ๐ณ๐ฎ๐ข๐ต๐ช๐ฐ๐ฏ ๐ข๐ฃ๐ฐ๐ถ๐ต ๐๐ช๐ด๐ด๐ฐ๐ถ๐ณ๐ช ๐ญ๐ข๐ธ ๐ข๐ฏ๐ฅ ๐ช๐ด ๐ฏ๐ฐ๐ต ๐ญ๐ฆ๐จ๐ข๐ญ ๐ข๐ฅ๐ท๐ช๐ค๐ฆ. ๐๐ฐ๐ณ ๐จ๐ถ๐ช๐ฅ๐ข๐ฏ๐ค๐ฆ ๐ฐ๐ฏ ๐บ๐ฐ๐ถ๐ณ ๐ด๐ช๐ต๐ถ๐ข๐ต๐ช๐ฐ๐ฏ, ๐ด๐ฑ๐ฆ๐ข๐ฌ ๐ธ๐ช๐ต๐ฉ ๐ข ๐ฒ๐ถ๐ข๐ญ๐ช๐ง๐ช๐ฆ๐ฅ ๐ข๐ต๐ต๐ฐ๐ณ๐ฏ๐ฆ๐บ.