How Can Our Divorce Lawyer On Long Island Help With Marital Debt?
Most people know that when you go through a divorce, the court decides how to divide all property and assets accumulated over the marriage between the two spouses. However, what some fail to realize is that marital debt can also be split up as well. At Simonetti and Associates, we’re well versed in the area of marital debt. Our divorce lawyer on Long Island would like to walk you through how this debt is dispersed, and what you can do to protect yourself.
Determining how much debt has been accumulated over the course of a marriage plays an important role in ironing out the net worth of the couple. This process helps the court to decide how both assets and debt are distributed. When filing for a divorce, you should be sure that you grant our divorce lawyer on Long Island access to every bill and financial statement so we can work towards securing the best possible outcome.
How Debt Is Dispersed
At the end of the day, how your marital debt is dispersed will be up to the court. In most cases, the courts will try to distribute debt as equally as possibly. However, if it can be proven that some debt should affect one spouse more, the distribution can be offered.
What If A Former Spouse Doesn’t Pay?
When the court makes their decision on how debt is distributed, there is a legal obligation to pay it off. However, there are times when your ex-spouse may not be making the appropriate payments. In these cases, the creditor may begin to come after you for payments you are not responsible for. Fortunately, our divorce lawyer on Long Island can help with this. We can bring this matter back to the court to help get creditors off of your back. In addition, you ex-spouse may be faced with the following for missing payments:
- Jail time
Contact Our Divorce Lawyer On Long Island
Getting through the financial aspects of divorce can be a difficult process. Having the right representation can help save you from wasted time and headaches. At Simonetti and Associates, our team will help do our part to manage marital debt. For more information, contact our divorce lawyer on Long Island today.