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How Do I Divide My Debt in a Divorce?

 Posted on September 06, 2023 in Divorce

Irving, TX divorce lawyerDivorce can be a difficult and emotional time, and the division of debt can add to the stress. In Texas, debt acquired during the marriage is considered marital debt, and it will be divided between the spouses, regardless of who incurred it. However, there are some exceptions to this rule.

To better help you understand these exceptions, you should hire a Texas family law attorney. An attorney can help you understand your rights and options and negotiate a fair settlement with your spouse.

Marital Debt vs. Separate Debt

There are generally two kinds of debt: marital debt and separate debt. Marital debt is debt that was incurred by either spouse during the marriage. This includes credit card debt, student loans, car loans, and mortgages.

Marital debt may also not be subject to include debt that was incurred by one spouse while the other was physically or mentally incapacitated. 

Separate debt is debt that was incurred by either spouse before the marriage. This includes debt from a personal loan, medical bills, or credit card debt that was incurred for the spouse's expenses.

If you are unsure whether a debt is marital or separate, you should speak to an attorney.

How is Debt Divided in a Texas Divorce?

In general, the division of marital debt is a matter of negotiation between the spouses or by the court. The factors that the court may consider when dividing debt include:

  • The income and assets of each spouse

  • The length of the marriage

  • The circumstances surrounding the debt

The court will strive to divide the debt in a way that is fair to both spouses. However, there is no guarantee that the debt will be divided equally.

What if I Do Not Want to Pay My Share of the Debt?

If you do not want to pay your share of the debt, you can try to negotiate with your spouse to reach an agreement. You may also be able to file a motion with the court to have the debt assigned to the other spouse. However, the court is not required to grant your request.

Contact a Dallas, TX Divorce Attorney

Navigating the difficulties of debt division following a divorce requires professional guidance. A Tarrant County, TX divorce attorney like Michelle Poblenz can provide the legal assistance you need. Call the Law Office of Michelle Poblenz at 469-845-3031 for a private consultation and take the first step toward getting your financial affairs in order.

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