Sentences with phrase «joint debts during»
Divorce and Debt - Features information regarding paying off individual and joint debts during a divorce.
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«As part of the new Regulations, an official joint announcement will be released during the upcoming PBOC press conference making it clear that neither the People's Bank of China nor the Hong Kong Monetary Authority recognises Bitcoin or any other virtual currency as legal tender, thus, making its use as an official currency to settle debts and financial obligations illegal.
With a Chapter 13 bankruptcy, if the filer submits a plan that will address all of the joint debt, the creditor can not pursue the spouse for payment of the debt during the restructuring payment period (which generally runs for up to five years).
If the spouse filing has no joint debt with the non-filing spouse or joint accounts for the trustee to go after, there is really no conflict of interest that would prevent the spouse from buying a house during the bankruptcy.
The only way to effectively protect your credit (and the credit of your ex-spouse, for that matter) during a divorce is to completely eliminate all joint debts one way or another.
The parties have accumulated certain community, joint and common property and debts during the coverture of the marriage which should be equitably divided.
But too often, divorcing couples don't mop up the joint debts they held during the marriage, and the situation blows up years later when one ex-spouse hits financial trouble.
The court may decide one spouse is responsible for all joint debts and liabilities of the parties incurred during marriage.
In most states the general rule is that all assets obtained during a marriage are joint property but responsibility for the debts of one spouse does not pass to the other spouse unless the debt was in the name of both parties.
This means that any property (other than gifts or inheritances) you and your spouse acquired during the marriage belongs equally to both parties and any joint debts incurred during the marriage are the equal responsibility of both parties.
The issues that are typically addressed in mediation are issues related to children: legal custody and residential custody, visitation, child support, allocation of college expenses for the children, health insurance, life insurance; alimony and spousal support; division of real property, including the family home; division of tangible personal property including motor vehicles, boats, furniture, furnishings, art work, etc.; disposition of other property accumulated during the marriage, including bank accounts, investment accounts, pension / profit - sharing / retirement accounts, etc.; payment of credit cards and other debts, and tax matters including decisions relative to filing joint or separate tax returns and claiming the children as dependency deductions.