How would the family debt be split in a divorce? - Divorce Law Questions and Answers

How would the family debt be split in a divorce?

Would the debt in a divorce be split 50/50? Needless to say, we have some financial issues. Could the split be adjusted if one person was largely responsible for the accumulation of said debt?

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Answered By: The McDonnell Law Firm, PLLC

Call now: (716) 565-2100

Marital debt, like marital assets, is held jointly. If it occurred during the marriage, it doesn't matter whose name is on it. You are both responsible for it. You can always come to a mutual agreement on who will pay the deb.

Answer Applies to: New York - Replied: 10/9/2011

Disclaimer: The responses above do not form an attorney-client relationship. These answers may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. These attorneys may or may not be admitted to state bar of your state.

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