Debt, Credit and Bankruptcy Counseling
In most states, both parties are responsible for any debts incurred during the marriage, no matter who actually spent the money. Typically, when the property is divided during the divorce settlement, the person who receives the asset also receives the responsibility for any debt against the asset.
It is important to realize that there are four types of debt to consider; secured debt, unsecured debt, tax debt and divorce expense debt. Each has different long-term financial implications. I will help you understand the differences between these types of debt as well as legal liability to the creditors. I also am able to provide you with post-divorce debt and credit counseling to ensure you begin your new life on an informed financial track.