Filing for Bankruptcy and Responsibility for Marital Debt
All marital assets and debts are divided in an Indiana divorce. Once a spouse has been ordered by the court to pay a marital debt, he or she is legally required to do so. Another undeniable truth about dividing debt in a divorce is that, in many cases, one or both of the spouses does not have the financial wherewithal to handle all of the debts he or she has been ordered to pay.
At Walton Legal Services, our Indianapolis division of debt attorneys provide sound advice and strong representation to clients who need help finding debt relief after a divorce. We also provide complete legal services in the area of uncontested divorce, which puts us in a uniquely strong position to provide sound advice about issues involving both of these complex areas of law.
Walton Legal Services: More than 30 years | More than 30,000 bankruptcies filed
The Dischargeability of Marital Debts
While it may be possible for you to discharge certain debts that were assigned to you in the divorce agreement, such as a credit card, if it was a joint account, the creditor (the credit card company in this example) has the ability to pursue recovery from your former spouse. If your former spouse pays the bill, he or she can seek a judgment against you to recover the money for the bill that you were ordered to pay.
If your divorce has not yet been finalized, and you already know that handling your share of the debts will be a challenge, we recommend that you consider filing a joint petition with your spouse before you divorce. It will greatly reduce the debt load that will need to be addressed in your divorce agreement and likely make the transition into single life much more smooth for both of you.
Contact a Columbus Marital Debt Attorney Today
If you are looking for an Indianapolis debt-relief lawyer to help you with any marital debt division issue, call one of our Indianapolis law offices, call our Columbus, Indiana, office or contact us online. We offer free initial consultations, and we give you detailed up-front information about our fee arrangements, so there will be no surprises.
We are a debt relief agency. We have helped more than 30,000 people file for bankruptcy relief under the Bankruptcy Code.
