Filing for divorce in Vista, California, is never easy, even for couples that have struggled with their marriage. What a lot of divorcing couples don’t realize is that any and all credit card debt acquired during the marriage will be divided in a divorce. Let’s take a look at how this is done so you have an understanding of what you will be responsible for when the divorce goes final.

The first thing you need to know is that credit card companies do not operate by following divorce decrees. This means that the companies will not honor whatever it says in your decree about debt. The company wants to be repaid the money you spent on their dime, no matter what your marital or financial situation is.

It is recommended that you leave your marriage with zero joint debt between the two of you. This can be done by either paying off all of the joint credit card accounts or dividing the debt in half and transferring it to credit cards that are in your own name and the name of your spouse (individual accounts).

If you leave your marriage with jointly held debt you are putting yourself at risk. If your former spouse winds up filing for bankruptcy you will be on the hook for the debt, penalties, fees and interest.

As you prepare to file for divorce in Vista you need to take a look at your finances and debt. Get ready to have the debt divided evenly between you and your spouse unless the two of you can come to some other type of agreement.

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