family law

You're Not Alone. Let Us Help.

James D. Madden & Aruna P. Rodrigo, Family Law Attorneys

How Is Debt Divided in a Divorce?

Hire An Experienced Attorney To Help You Fight For A Favorable Outcome

As complicated and contentious as dividing assets can be during the divorce process, determining how to divide debt can become even more so. During this time, you need to factor in what percentage should be considered separate and what percentage should be considered as well as whose name the debt falls under. Depending on how much you and your soon to be ex-spouse owe, it may be difficult to determine just how much each party should remain responsible for once your divorce is finalized. Hiring an experienced family law attorney will put you in the best position possible to navigate this process.

Give us a call at (909) 992-0188 to speak with a member of our firm today.

Divorce can be a complicated and stressful experience, and our San Bernardino property division attorneys here at James D. Madden & Aruna P. Rodrigo, Family Law Attorneys are ready to help make the process as smooth and stress-free as possible. With nearly two decades of experience, our firm has the knowledge you need to ensure that you move on to the next phase of your life in the best position possible. Whether you are just starting the divorce process or if you’ve been working your way through it for a while, contact us today to learn how we can be of assistance.

What Should I Look Out For?

While debt is treated like any other property during the divorce process, the most important piece to pay attention to is which spouse’s name is associated with the debt. Even if you and your soon to be ex-spouse come to an agreement to pay off the debt together, the company or companies you owe money do are unlikely to honor that. If the debt is under your name and your ex-spouse misses a payment, you will likely be on the hook for any penalties, fees, and / or interest.

The best course of action may be to pay off all debt before the divorce is complete – this could involve selling off real estate rather than fighting over who ends up with the home. You may also decide to pay sign up for a new credit card and transfer the balance to your new account. No matter what you decide to do, it’s in your best interest to hire an experienced family law lawyer to help you through this process.

Fill out our online form to request a free case evaluation.

Hire The Experienced Lawyer You Need Today

At James D. Madden & Aruna P. Rodrigo, Family Law Attorneys, our San Bernardino property division lawyers have helped hundreds of clients successfully navigate their divorce process by providing the experienced and knowledgeable counsel they need. If you are considering filing for divorce or if you’re already deep into the process, give us a call at (909) 992-0188 to speak with a member of our firm, or fill out our online form to request a free assessment of your case today.

Put Experience on Your Side