Divorce can be a long and difficult process. If you have questions about debt and divorce, check out this article. Then, call us today.
Divorce can be a long and difficult process. You’ll need to make decisions about a number of things, including debt that you took on jointly with your spouse. Don’t just assume that your divorce will split loans up the way you expected, and take steps to protect yourself from future financial troubles (and stress) down the road.
Divorce Agreement vs. Loan Agreement
First, be aware that anything you agree to during divorce is not necessarily agreed to by your lenders.
One spouse is frequently responsible for repaying certain loans after divorce (even joint debt, such as a car loan applied for by both partners). But that just means..Read the entire article by Justin Pritchard on the Balance.