Except for matter relating to the children, asset and debt division is usually the most difficult part of a Wheat Ridge or Arvada divorce. The more assets or debts you and your spouse have, the more challenging this task can be. Usually everyone expects that the marital property will have to be divided, but debt is sometimes a surprising aspect that people forget they have to deal with.
Student loan debt is often a tricky debt to deal with in the midst of a Jefferson County divorce. Mainly, those involved in a dissolution of marriage want to know who gets the debt or how it will be divided. Let's take a closer look at student loan debt and how it is handled during a divorce in Arvada or Golden.
It's often unsettling for those going through a Wheat Ridge divorce that they can't get a clear picture of their financial situation, as things are up in the air while the divorce is pending. It's hard enough to split finances and budget, but add into that not knowing exactly how much you will be giving or getting through spousal maintenance (alimony) or child support and the task is seemingly impossible. While all that is undecided, there are some things you can do to at least protect your credit, setting you up for a better financial situation when the dust finally settles and you have a real understanding of your finances.
While asset division is a huge piece of a Wheat Ridge, Golden, and Mountain View divorce, debt will also be divided in a 'fair and equitable' manner. This often does not mean a 50/50 split. Let's look at the way marital debt is divided and the contributing factors to debt division in a Jefferson County dissolution of marriage.