Debts in Divorce Seminar Presentation
I recently spoke at the UT Family Law on the Frontlines Seminar in Galveston on the Topic of helping clients deal with debts in divorces. Debts can be a huge issue in any divorce. However, the divorce lawyer is very limited in her ability to change the liability on the debts. When two people get a divorce, the debts can be apportioned between them, but the liability to the creditor cannot be altered. So, for example, if two spouses purchase a car together and both names are listed as liable on the debt, the divorce will only order one of those people to pay the debt. It cannot change the fact that both people owe the finance company for the car. If the spouse that is supposed to pay the debt does not do so, then the creditor still has remedies against the other spouse, regardless of the language of the divorce orders. If you need advice about dealing with debts in your marriage or divorce, please contact us for an appointment.
