Having shared credit with a spouse whom you intend to divorce can be a nerve wracking situation but when you find yourself in this circumstance, you need to get the experience of a Nassau County credit defenses in a divorce lawyer. A Nassau County credit defenses in a divorce attorney can help you to avoid common missteps at the outset of your marital dissolution that could leave you jointly or individually liable for debt.
Many people are knowledgeable about the concept that a divorcing couple will divide up their marital assets and liabilities during a divorce process. That being said, marital debts may not be as glamorous to address as cars, valuables and houses, which means there are very little mentions in pop culture about how spouses desire to split up their liabilities. If you enter into this situation with appropriate legal representation from a credit defenses in a divorce attorney in Nassau County, you may make mistakes that could cost you years down the road. You want to address these issues at the outset, including splitting pensions.
A credit defenses in a divorce lawyer in Nassau County can explain to you that when a joint credit card is used or when one partner uses the credit card of someone else as an unauthorized user, divorce proceedings do not automatically nullify the contract that was made between the credit card issuer and the person who got the credit card. One partner that agrees to pay the credit card, for example, in a divorce agreement however, does not always mean that the other party is totally absolved of his or her liability. This does not release the other partner from his or her responsibility to maintain awareness of the card issuer.
This means that even if a debt was assigned to the other spouse in a divorce, if he or she fails to pay it, you could still be held liable. The credit card issuer may still go after the partner who was not involved in the payment arrangement agreements following the divorce if the monthly payments were not made as agreed.
Credit card debt can follow you through a divorce which makes it all the more important to discuss directly with an attorney who has been practicing in this field for many years. Appropriate credit defenses can include the inclusion of verbiage and language that shares that one partner is responsible for this information and empowers you to take action if the other party does not hold up their end of the deal.
It can be very overwhelming to figure out how to maintain responsibility for your financial life when you are facing the prospect of this difficult situation but scheduling a consultation with a lawyer who has been practicing in this field can help you avoid this situation in which one partner has run up credit card debt in anticipation of divorce or separation. When the remaining marital property is distributed, you need to be sure that it is very clear who is responsible for which debts. If you jointly opened up a credit card, for example, and the other party does not pay on the credit card as discussed, the credit card company is still well within their rights to come after you because technically you also made an agreement with the credit card company to be responsible for the associated debts. You need to monitor your credit and stay aware of any open accounts. Closing any joint accounts as soon as possible can help you avoid the challenges associated with many of the most common problems and getting the support of a lawyer who has practiced in this field for years is beneficial.