When you are concerned about the possible implications of joint debt after you have gotten a divorce, you need a Queens credit defenses in a divorce lawyer. A Queens credit defenses in a divorce attorney may be the only person who can help you with a proper documentation to protect your interests going forward after a divorce has concluded. Financial aspects of a divorce are often some of the most contentious and difficult to grapple with.
If you first tried to work things out with alternative dispute resolution but couldn’t come to an agreement, litigation may be your only option. Dealing with issues after the marriage can be difficult, so proper preparation of documents during the divorce is crucial.
They involve the intersection of a number of different types of regulations and laws that are also at the discretion of the judge based on the facts in your individual case. Joint debts, however, can have significant implications on your life after a divorce. From separation to the conclusion of the divorce matter, insight helps.
Couples routinely co-mingle their finances after marriage in anticipation of a long marriage of shared responsibility and shared contributions. It is not uncommon for couples who have joint accounts to also have joint credit cards or joint lines of credit. Any large purchases that are made by the parties jointly, which means that both parties are responsible for the charges, usually will not be a problem unless one party intends to get a divorce.
During a divorce, many different issues are decided, whether by the couples themselves in form of an agreement or when a judge has reviewed the various issues. After the divorce, the allocations of debt and how to defend and set the collections can sometimes change. A credit defenses in a divorce attorney in Queens may be able to help if you are concerned about the best way to protect yourself. Collection attempts can be overwhelming and can be damaging to you as well.
A credit defenses in a divorce lawyer in Queens will be able to help you navigate this complex situation and to avoid many of the most common negative impacts. When a couple gets divorced, they will typically declare all of their marital debts to the court in order to allow that debt to be divided. This is the same as with any assets and the New York equitable distribution of property rules apply.
The divorce decree may additionally order the husband to pay off a joint credit card while asking the wife to give up some property or to take on another debt. In some situations, however, despite the decree which appears to be relatively clear, certain spouses may decide not to make any payments.
This may allow the account to become delinquent, but because of the joint nature of the credit card or credit line, when it was open, parties could end up being held responsible. When the debt ultimately become delinquent, both spouses can be sued because the original account was held together. The fact that a debt was allocated to one spouse in a divorce action and the other spouse is not taking a responsibility for it, it is not an appropriate defense to an action by a debt collector or a creditor who purchases a debt and subsequently sues to collect. This situation can become even more complicated for a spouse who believes that they are no longer responsible for the debt, if the other spouse files for bankruptcy.
This shifts any jointly owned debt to the non-filing spouse who would then have no ability to defend against the lawsuit by creditors simply by showing the divorce decree and how the debt was ultimately allocated. The spouse who will not be paying debt must include language in the divorce settlement that requires the refinancing of any debt that he or she is no longer responsible for. An experienced attorney should be the person who drafts this necessary information in order to protect the best interests of that spouse.