Most people are familiar with the idea that a divorcing couple will split
the marital assets during the divorce process. However, marital debts
are not as glamorous as houses, cars, and other valuables, and hence there
is usually very little pop-culture mentions about how a divorcing couple
will split their liabilities. For example, many divorcing couples have
significant credit card debt. Here we will take a brief look at how New
York law handles such situations.
Generally speaking credit card debts incurred by married individuals are
considered to be the responsibility of both parties as it relates to divorce,
and as such are generally equitably distributed. In cases where one partner
runs up credit card debt in anticipation of separation or divorce, this
situation may be addressed when the remaining marital property is distributed.
In cases where a joint credit card is used, or one partner uses the credit
card of another as an authorized user,
divorce proceedings do not nullify the contract made between the partner who obtained
the credit card and the credit card issuer. As such, one partner agreeing
to pay the credit card does not necessarily release the other partner
from their agreement with the card issuer. Should the monthly payments
not be made as agreed, the issuer may still go after the partner with
which the original repayment contract was made.
Are you filing for divorce in New York? Are you familiar with how debts
are divided up in a divorce case? Credit card debt can follow you even
through a divorce, so be sure to hire an experienced divorce lawyer to
help you navigate and understand the process. Our top-rated divorce attorney
comes highly recommended.
Contact H. Benjamin Perez & Associates, P.C. today for exceptional representation in your divorce case.