Are you responsible for your spouse debt after separation?
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Are you responsible for your spouse debt after separation?
When Are You Responsible for Your Spouse’s Debt? After a legal separation or divorce, a debt is generally owed only by the spouse who incurred the debt, unless the debt was incurred for family necessities, to maintain jointly owned assets (for example, to fix a leaking roof), or if the spouses keep a joint account.
How is credit card debt split in a divorce?
When you get a divorce, you are still responsible for any debt in your name. These states go by “community law,” which means that any property and debt accrued during a marriage are split between spouses after a divorce. That includes credit card debteven credit card debt that is only in one spouse’s name.
Is a wife responsible for her husband’s credit card debt?
If you are a joint account holder on your husband’s credit cards, you will likely be responsible for the debts on those credit cards. As a joint account holder, you share full responsibility for the debt under the terms of the contract, even if you didn’t make the charges.
