Money is a factor in many divorces, and often at least one party is contemplating filing bankruptcy at the same time the couple are considering divorce.<\/p>\n
Both spouses are equally responsible for debts incurred during a marriage. A divorce settlement will divide the debts between the two parties, but creditors can still attempt to collect from either spouse. If your spouse doesn’t stay timely with his or her debt payments, creditors will come to you to make up the difference.<\/p>\n
Say you and your spouse got divorced and split your debts, and then your ex-spouse filed for bankruptcy. You are still responsible to the creditor for the entire debt. However, the divorce agreement is a judgment that you can use to force your ex-spouse to pay his or her share.<\/p>\n
In order for both of you to be free of the debt, you must both declare bankruptcy. If you do so, your debt burden (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Money is a factor in many divorces, and often at least one party is contemplating filing bankruptcy at the same time the couple are considering divorce. Both spouses are equally responsible for debts incurred during a marriage. A divorce settlement…<\/span><\/p>\n