How is credit card debt split in a divorce?
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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 a husband’s credit card debt?
In most cases you will not be responsible to pay off your deceased spouse’s debts. As a general rule, no one else is obligated to pay the debt of a person who has died. If there is a joint account holder on a credit card, the joint account holder owes the debt.
Is credit card debt considered community property?
Community Property States In those states, everything that is acquired during the marriage is usually considered equally owned by the spouses. It is the property of their once-happy community. So anything owed as a result of those purchases mortgages, auto loans, credit card debt is community property.
What to do with a joint mortgage when you split up?
6 Solutions to Paying the MortgageTalk with all involved parties and come to an agreement. Find any way of paying the mortgage. Seek an Order from the Court about the payment of the mortgage. Sell the house before the bank does. Seek an Order from the Court for the sale of the house. Both parties move out and rent the house.
