Sentences with phrase «spouse accrued the debt»

Typically, the court treats credit - card debt acquired during marriage as a marital debt for which both parties are responsible, even if only one spouse accrued the debt.

Not exact matches

In those states all property and debts accrued during marriage are to be split between spouses after the divorce.

Accruing $ 150 - $ 200k in debt to work at legal aid is not going to work, unless you are independently wealth or your spouse makes loads of money.

DSO's are debts that accrue before, on or after the day the bankruptcy is filed and are owed to or recoverable by a spouse, former spouse, or child of the bankruptcy petitioner, or a governmental unit.

Ideally, you and your spouse will decide together how you want to divide the marital property — you'll have to decide things like whether one of you will keep the family home and buy out the other spouse's interest or whether you'll sell the house; who will keep the furniture and other tangible property; how you'll divide retirement assets that each of you has accrued through your work; and how to deal with marital debts.

The couple must also assign all debt accrued during the marriage, including mortgages, car loans, and credit card debts, to one spouse or the other.

If one partner passes away, the insurance policy will help cover the costs of the funeral and final medical expenses to prevent the surviving spouse from accruing even more debt.