Marital Debt
When going through a divorce, people often worry about how their money will be split. But what they sometimes do not realize is that marital debt can also be split during a divorce. If your spouse has left you with a lot of debt, you may be worried about being stuck with their debt that you’re not responsible for. We at Simonetti & Associates want to help you during this difficult time, and we don’t want to you to have to pay for somebody else’s debt.
If you are looking for the best divorce lawyers on Long Island, Simonetti & Associates will help you through your divorce, and make sure you only have to pay what you deserve. If you had a spouse with a lot of debt, and feel that you should not have to pay for their responsibility, here is some advice you can follow to leave you with as little debt as possible.
- If your spouse is not paying their debt, you can petition this to the court, and this will force your spouse to comply. By requiring your spouse to appear in court, and if they do not, the judge can enforce further punishments on them, such as fines or jail time.
- Try and clear the debt before or during the divorce. If able to afford to, pay off your spouse’s debt, and then keep proof of payment. Tell this information to the court, and they will try to get you assistance in reimbursement from your ex.
- If unable to afford it, you might think filing for bankruptcy is the answer. However, this doing this does not stop spousal and child support payments.
Because New York is an equitable distribution state, you only have to pay the debts with your name on them. If you have property in your name, or your property with both of your names, you will only have to pay debt on that property. Because Simonetti & Associates want to give you the quick, easy divorce that you deserve, our best divorce lawyers on Long Island want to make sure that you only have to pay the debt that you’re responsible for.
