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When thinking about divorce couples start thinking about who will get the house. Who will get the children? Am I entitled to alimony? But there is one part that might need some attention- allocation and division of debt also known as Marital Debt. This is debt incurred by either spouse going back to the start of their marriage to the time of filing for divorce. There are some exceptions to this that you can discuss with a licensed NJ Divorce attorney.
Now you are wondering if you are responsible for your spouse’s debt, generally, the debt is split equally between both parties. Your attorney can assist you in determining if they can argue who benefitted from the debt and hope to help alleviate your debt burden but every case is different and the attorneys at Eveland Foster Family Law can assist you with this.
Contact Eveland & Foster, LLC for Help
If you are contemplating divorce contact our attorneys at Eveland & Foster, LLC for assistance. We practice exclusively in family law and understand how to navigate the allocation and division of debt process. We can provide guidance on how to recover fiscally after divorce. Our NJ Family Law Firm is located in Morristown, New Jersey. Call to schedule a consultation today.
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