Debt Division in Pennsylvania Divorce
How is debt divided in a no fault divorce?
When a couple agrees to divorce, they must determine how their personal debt will be divided once the divorce is finalized. If you and your spouse are entering a Pennsylvania no-fault divorce with debt, there are a few options from which to choose. The easiest way to deal with debts is to pay them off before divorcing; however, we know that most often this is not a possibility. This means that you and your spouse must decide if it would be better to work together to pay off debts after you are separated or to write up a settlement that divides the debts fairly.
If you and your spouse are entering into an uncontested divorce amicably, then working together to repay your creditors may be a good solution. If you and your spouse want to avoid contact after your divorce is finalized, dividing the debts may be more appealing. It is important to note, however, that many creditors, such as credit card companies, are not bound by divorcing couples' debt division agreements. This means that your credit would be negatively affected if your spouse failed to pay the debts, and the creditor could still come after you for repayment.
Pennsylvania Attorney Helping with Debt Division Settlements
It can be hard to determine the best choice for your situation, but a debt division settlement lawyer with vast experience in Pennsylvania no-fault divorces can help you and your spouse write up an agreement.
The Cairns Method of Obtaining an Internet-Based Divorce℠ enables our firm to provide clients with fast, affordable divorces. We believe that you deserve professional legal services without the high prices and hidden fees typical of conventional law firms. We can
prepare marital settlement agreements for you and your spouse and we will not charge you extra for including more than creditors in your agreement.
There is no need to wait for a lawyer to get around to your case; we have a one-day processing method, which means we process each step of your divorce fast. We send regular updates on the status of your divorce, and if you should have any questions along the way, our office will respond to your emails and phone calls within a day. Our experienced team is committed to providing clients with premium, detailed legal representation at a low cost. We understand that you and your spouse want to dissolve your marriage and handle your debts efficiently and quickly, so call our offices today for a free legal consultation.
Contact a Pennsylvania debt division attorney from our firm today to prepare your debt settlement agreement and for more information about Pennsylvania no-fault divorce.