Division Of Marital Debt During Divorce
Debt is a part of life — especially in today’s economy. Most married couples have multiple debts. Just as your property must be fairly divided during the divorce process, so, too, must your debts. In Georgia, any debt acquired during the marriage by either spouse is considered marital debt. It doesn’t necessarily matter whose name is on the debt. This means all debt must be considered in light of the entire financial picture. The most common types of debt that come up during divorce include:
- Credit card debt
- Auto loans
Figuring out a fair division of these debts can be complicated. The process becomes even more challenging when you are dealing with difficult financial circumstances — for example, an impending short sale or foreclosure. This type of financial strain is often one of the factors that contribute to a breakdown in the marriage.
Divorce is hard enough. Add debt and financial strain to the mix, and you have a lot on your shoulders. We can help.
We’ll Fight For You
Obtaining a fair division of debt is just as important as getting your fair share of the property. Both outcomes will have a major impact on your life going forward. That’s why it’s so important to involve a lawyer — someone you can rely on to protect your interests.
You’ll find strong and effective advocacy at Daniels & Rothman, P.C. Our legal team is well-known in the Athens area for the tireless determination we bring to every case. Applying almost 25 years of legal experience, our family law attorney and staff will work closely with you to fight for a favorable resolution.
To speak with a member of our team during a free initial consultation, please call 706-621-5166 or reach out to us online.