16 August 2012 0 Comments

Allocation of debt

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The allocation of debts is one of the most important issues to settle during a divorce.  If not carefully handled, it can hold up the divorce proceedings.

Both parties are responsible for paying down marital debts – which are equitably distributed.  Neither wants to be held responsible for more debt than they actually owe.

Things move along much more smoothly when the couples decide on their own how to separate their assets and financial debts. However, when a couple cannot agree on this matter, talking to an attorney can help.  The attorney can petition a judge to allocate the debts between you and your divorcing spouse.

If you have questions about the potential allocation of debt in your case, contact an experienced Riverside Divorce attorney to determine how best to protect your financial rights during your divorce.

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