Debt is always one of the many things that a court considers in the calculation of a marital asset and debt division and also in a divorce. If a debt is premarital, it may not be counted or could not be counted into a debt calculation, and if a debt is marital in nature, it usually will be counted when the court divides assets and debts.
Depending on how acquired the debt and what it was for and the timing of the debt, will determine who is responsible for it. If a debt is acquired during the course of the marriage, and it is for marital purposes, and it’s acquired by one of the parties then it will generally be a debt that a court will allocate in conjunction or combination with it’s asset allocation. If you have any other questions about your debt specifically, or debt in a divorce, we’ll be happy to talk to you here at Miller & Steiert.
