Why does divorce settlement take so long?
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Why does divorce settlement take so long?
Divorce Courts Are Busy But often, these settlements don’t happen until shortly before a trial date, usually a year or so after the divorce petition was filed. Up to that point, the court has been busy dealing with the standard progression of events in the case.
Is a husband responsible for his wife’s credit card debt?
But in addition, debts incurred by you or your spouse during your marriage (regardless of whose name is on it) are generally deemed to be community debts and both spouses are considered equally liable. This means that even if the credit card debt was incurred by your spouse alone, you may be on the hook for it.
What happens to credit card debt in a divorce?
Debts are dealt with in a property settlement which outlines how assets and debt will be divided. A property settlement can be negotiated outside of court, or if a couple cannot come to an agreement then a court can determine a property settlement for them.
What happens to debt in a divorce?
As part of the divorce judgment, the court will divide the couple’s debts and assets. The court will indicate which party is responsible for paying which bills while dividing property and money. Generally, the court tries to divide assets and debts equally; however, they can also be used to balance one another.
