S9 Ep90: If the Debt is in My Name, Will My Ex Be Responsible?

#ChooseGoldman Attorney Akiva Goldman explains that responsibility for debt in a Michigan divorce depends on when the debt was incurred rather than whose name is on the account. Most debts acquired during the marriage for the benefit of the family are considered marital and are typically divided equally between both parties. • Timing Over Titles: The key factor in dividing debt is whether it was incurred during the marriage, regardless of which spouse's name is on the contract. • Marital Benefit Rule: Debts used for household improvements, family vehicles, or daily needs are generally split 50/50 as joint marital debt. • Creditor Reality: Banks are not parties to your divorce; they will continue to hold the person who signed the contract responsible for the full amount even if a judge orders your ex to pay. • Joint Account Liability: If a debt is in both names, creditors can pursue either or both parties for the entire balance regardless of the court's allocation of "ownership." • Conduct-Based Exceptions: Courts may assign debt solely to one spouse if the spending did not benefit the marriage, such as expenses related to an extramarital affair. 📞 (248) 590-6600 Call/Text 📅 For a Complimentary Phone Case Evaluation: https://app.acuityscheduling.com/schedule.php?owner=17105687&appointmentType=18529428 Click here to watch the video: https://youtu.be/aIRjbuLbOyw For more information: https://akivagoldman.com/michigan-divorce-lawyer ⬇️ Download Divorce & Custody Survival Guide. Click here: https://akivagoldman.com/free-legal-ebook/ Learn more in our blog: https://akivagoldman.com/blog/divorce/if-the-debt-is-in-my-name-will-my-ex-be-responsible Visit us at ChooseGoldman.com #Goldmanandassociateslawfirm #ChooseGoldman #ChooseGoldmanLaw #MichiganDivorce #DebtDivision #MaritalDebt #LegalAdvice #FamilyLaw #CreditProtection