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Dividing debt during a divorce can be as challenging as separating assets, and it requires a clear understanding of state laws, the nature of the debt and each spouse’s financial situation.
Divorce can be financially devastating — as one Cleveland man recently found out. ... Specifically, nine states have “community property” laws that split marital assets (and debts) 50-50 ...
About 14,000 borrowers were still responsible for spousal debt even after divorce as a result of joint loan consolidation, according to an NPR investigation. But last year, Congress passed the ...
A divorce settlement entails which spouse gets what property and what responsibilities once the marriage is over. "It deals with child custody and visitation, child support, alimony, health and life insurance, real estate, cars, household items, bank accounts, debts, investments, retirement plans and pensions, college tuition for children, and other items of value, such as frequent flyer miles ...
In the United States, marriage and divorce fall under the jurisdiction of state governments, not the federal government. Although such matters are usually ancillary or consequential to the dissolution of the marriage, divorce may also involve issues of spousal support, child custody, child support, distribution of property and division of debt.
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