Dividing Marital Debt

Dividing Marital Debts In Divorce

Many divorcing couples worry about how their assets are to be divided. They wonder if they will be treated fairly in the area of property division. They do not want to lose what they believe is rightfully theirs.

Many other couples are concerned about what will happen to their marital debt when they get divorced. Most married people have some debt — a mortgage, vehicle financing or student loans — but some couples have debt that overshadows their assets. The division of debts like credit card debts can be one of the most contentious issues when their marriages end, and this problem calls for the help of a knowledgeable attorney.

Orange County Lawyers Who Can Address Your Concerns

At the law firm of Hendrickson Cooper Hughes, based in Huntington Beach, California, we understand that debt-related issues can make a difficult divorce even more stressful. Many of our clients come to us with questions like:

• Who should pay the bills during the divorce process?
• What will happen to our house? What if the house is “underwater”?
• Will I get to keep my car? Who will make my car payments?
• Will we have to declare bankruptcy?
• Should I get my own bank account now?
• I haven’t worked in years. Will I need to get a job when I am divorced?
• What about debt that my husband or wife ran up? Will I be held responsible for it?
• What is a 733 vocational evaluation?
• How much income will I need in the future? How can I make sure I have enough to pay the bills?

Dealing With Debt | Creating Solutions

Every financial situation is different. We help our clients with comprehensive divorce planning and honest, practical advice about complicated family law matters.

Our attorneys can help you deal with the reality of your debt picture. We are here to help you create a solution. Contact us for a case evaluation.