Marital Debt In A Divorce


Financial difficulties are one of the leading causes of a divorce. When a divorce happens, the topic of property and asset division can often be tricky and wrought with difficulty. Working alongside an experienced family law attorney can mean the difference between resolving debt issues incurred after a divorce or not. 

Luckily, the team of divorce attorneys at The Law Office of Silverman, Mack & Associates is ready to help you at this pivotal time. We are well-versed in all areas of family law, including divorce and marital debt. We want to fight for you and make sure debts are split fairly among both parties. Don’t wait — contact us today to request a free consultation to discuss your options. 

What Is Marital Debt?

During a marriage, spouses incur debt from everyday activities and special occasions, such as a home, a car, or vacations. When the marriage ends and divorce proceedings begin, what to do with that debt can be the challenge. Marital debt can be broken down into four major categories, including credit card debt, mortgage debt, auto loan debt, student loan debt and medical debt. Credit card debt encapsulated both individual and joint credit card debt. 

How Is Marital Debt Divided? 

In Florida, if there’s no prenuptial agreement or antenuptial agreement, property and debt are divided using “equitable distribution.” This means that the court begins with the assumption that marital debts are divided accordingly between both parties. However, it’s important to understand that “equitable” doesn’t necessarily mean “equal.” When applying equitable distribution, the court will consider many factors, including the following. 

  • Assets & Liabilities Of Each Party 
  • Obligation For Support From A Prior Marriage
  • Duration Of The Marriage
  • Contributions To Help The Career Potential Of Another Spouse
  • Which Spouse Accrued The Debt & Why 

What Happens If My Former Partner Files For Bankruptcy?                  

There is no one right answer as to if and when you should file for bankruptcy. Our attorneys are here to advise you on if that’s the best option during your case. However, if one party decides to file for bankruptcy without telling the other spouse and you have joint debt, debt collectors can now come after you for those payments because your partner’s financial obligations for those debts have been wiped out. 

How Can A Divorce Attorney Help Me? 

You shouldn’t have to face divorce and the complicated division of marital debt and assets alone. Our attorneys at The Law Office of Silverman, Mack & Associates understand family law and divorce inside and out, and we want to help you through these difficult times. Don’t wait — contact our Gainesville divorce attorneys to request a free consultation.