Dividing Debt in Divorce
Do You Know How Your Debt Will Be Divided During Your Divorce?
Even in the most cordial of divorces frequently turn contentious when the divorce process turns towards dividing assets, especially in states like Florida that don’t divide property or assets down the middle. Once you begin to factor in debts you and your soon to be ex-spouse may have, coming up with a fair and mutually beneficial outcome can become even more difficult which may become even more se depending on the size of the debts you need to factor in. An experienced family law attorney can help you prepare for this process to ensure that you secure the beneficial outcome you need to move on to the next phase of your life.
Call us at (813) 518-7941 to speak with one of our Tama divorce attorneys at Givens Givens Sparks today.
At Givens Givens Sparks, our Tampa divorce attorneys have dedicated their careers to providing families and individuals who require knowledgeable and passionate legal representation during their time of need. With the proper guidance, you can avoid the pitfalls and mistakes that could result in you facing down a difficult and unfavorable situation. Our attorneys will work with you to make sure that you aren’t taken advantage of by the courts or your spouse, and help you secure the favorable outcome you deserve. Contact us today to begin planning your next step.
How Should I Prepare?
The first thing you need to do when preparing for the property division portion of your divorce process is to take note of the names connected to the debt you and your spouse may hold, and whether or not it exclusively belongs to either party. This is especially important because in many cases, the company you or your spouse owes money to may not care about the agreements you make in the courtroom. If your name is on the bill that your spouse agreed to pay, you will likely still be responsible for any fees, penalties and / or interest that result from missed or delayed payments.
One avenue you may choose to pursue is handling all of your debts before signing the final divorce papers. The easiest way to do this may be to sell off major pieces of real estate like your marital home and using the funds to pay off your debts. This could have the added benefit of answering arguments about who gets to keep the home before they even start. You could also sign up for a new credit card and transfer your funds and debts to that new account to make sure that everything is connected to the right name. Whichever avenue you choose to pursue, a qualified divorce attorney can help you throughout the entire process to help you avoid any potential complications.
Hire The Experienced Representation You Need Today
At Givens Givens Sparks, we understand just how difficult and stressful the divorce process can be for you and your entire family. Our Tampa divorce lawyers have more than 135 years of collective experience on our side, and have helped hundreds of people secure the beneficial outcome they require to move on to the next phase of their lives. Whether you are just beginning your divorce process or if you’re well on your way, call us at (813) 518-7941 to speak with one of our knowledgeable attorneys or fill out our online form to start out with a case evaluation today.