What happens to accumulated debt in a divorce
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
What happens to accumulated debt in a divorce
My wife has decided to leave me. Two years ago I took out a $52k loan in my name to consolidate bills. I paid all of her debt off with this loan but she feels no obligation to contribute to the payment of the debt. Also, I co-signed on a credit card for her and I would like her to close the account. The bank won’t let me do it, but she is not making any effort to close it, and is thinking about filing bankruptcy. Do I have any recourse?Thanks
Asked on June 22, 2009 under Family Law, Virginia
Answers:
B. B., Member, New Jersey Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
I think you need to see a divorce lawyer in your area, as soon as possible, who can review all of the facts of your situation, and give you reliable advice based on those facts and the law in your state (I don't practice in Virginia, and it does make a difference). One place to find a qualified attorney is our website, http://attorneypages.com
In many states, it might well be to your advantage to file a divorce action as soon as possible, because this usually cuts off your responsibility for your wife's debts at that point. In most states, it doesn't matter whose name is on an asset or a debt, if it came about during the marriage, it will have to be part of the property that is divided up.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.