S8 Ep94: Who Pays Off Joint Credit Card Debt in Divorce?

#ChooseGoldman One of the most complex issues in a divorce is the division of joint debt. In this episode, we explore how courts determine who is responsible for credit card payments and reveal the critical difference between a court order and your contractual obligation to a bank. • Debts from during the marriage are considered marital property, regardless of whose name is on the account. • Courts divide debt equitably (fairly), not always 50/50, by looking at who benefited from the spending. • Debt incurred for personal use after separation is likely to be assigned to the person who spent the money. • A divorce decree does not change your contract with a creditor. • The bank can legally pursue either party for payment on a joint account, even if a judge assigned the debt to your ex. Download Divorce & Custody Survival Guide. Click here: https://akivagoldman.com/free-legal-ebook/ Schedule Your Complimentary Phone Consultation: https://app.acuityscheduling.com/schedule.php?owner=17105687&appointmentType=18529428 For more information: https://akivagoldman.com/michigan-divorce-lawyer For additional information, watch these videos: Am I Responsible For Debt My Ex Took Out In Their Name Only - https://www.youtube.com/watch?v=-56pyDctPMk How Do Joint Accounts Work When Unmarried and Separated - https://www.youtube.com/watch?v=0IJqHkFY2Wk Visit us at ChooseGoldman.com #Goldmanandassociateslawfirm #ChooseGoldman #ChooseGoldmanLaw #DivorcePodcast #LegalPodcast #FamilyLaw #FinancialAdvice #MichiganLaw #DivorceDebt