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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.
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.
Because divorce law varies from state to state, it is important that divorcing spouses inform their attorney about student loan debt and any possibility of getting that debt discharged through ...
The Commission intended to correct the problem of inconsistent multiple orders by only allowing the support orders to be modified based upon a single state's law. In theory, states A, B and C could only modify a support order based upon the original state's substantive law; thus, all the support orders should be identical.
A 2004 paper by economists Betsey Stevenson and Justin Wolvers found an 8 to 16% decrease in female suicides after states enacted no-fault divorce laws. They also noted a roughly 30% decrease in ...
In the United States, the debt ceiling is a law limiting the total amount of money the federal government can borrow.. Since the federal government has consistently run a budget deficit since 2002, it must borrow to finance the spending that has been legally authorized in the federal budget.
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When California first enacted divorce laws in 1850, the only grounds for divorce were impotence, extreme cruelty, desertion, neglect, habitual intemperance, fraud, adultery, or conviction of a felony. [29] In 1969-1970, California became the first state to pass a purely no-fault divorce law, i.e., one which did not offer any fault divorce ...