The equitable distribution laws of Florida don’t just apply to the distribution of assets and property, but also to the distribution of debts.
So what happens to the credit card debt accumulated by one party or the other or both? It need not always be a joint account owned by both parties. Just because one spouse’s name is not there on the card, he or she won’t be exempted from its debt.
More often than not, there are cases when spouses disagree on settlement of these credit card debts. One party often refuses to pay the debt claiming that it was solely made use of by the other party. The party seeking to exempt themselves from the liability must show evidence. This evidence must be depictive of them being unaware of the credit card debt accumulated during the marriage. If not, the court most probably will not exempt that party from the liability.
The equitable distribution laws of Florida focus on dividing assets and debts between the spouses in a fair manner. That doesn’t inherently mean that it will be divided equally between the two spouses. Both parties may have to pitch in to settle the debt in some way or another.
Are you wondering if the divorce will leave you broke at the end of it all? It need not do that. The Best Orlando Divorce Lawyers can help you secure your assets during a divorce.
With divorce comes many financial matters that need to be settled. Make sure that you get the help of Best Orlando Divorce Lawyers in these situations to get the best outcomes.
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