Most people approaching divorce in California are aware that this is a "community property" state. This means that all assets acquired during a marriage with community property income are presumed to belong to both spouses. A central feature of every divorce is a determination of how assets will be distributed at the time of the divorce.
Along with asset division, most marital estates about to be split through divorce should also account for debt division. Credit card debts, a home mortgage, car loans and other types of debts should be allocated between the spouses and included in the divorce decree.
Can Creditors Go After Both Spouses?
Although a divorce decree will spell out which spouse should pay each debt, creditors still have the ability to pursue payment from either spouse or both spouses when debts were taken out in both names. If one spouse fails to pay his or her debt obligations, the other one may take the case back to family court for enforcement of the court decree. There are many factors that go into debt division.
Talk to an experienced Downey debt division attorney before or after a divorce in Los Angeles County or Orange County. Learn how our law firm can help you negotiate, formalize or enforce debt division in a California divorce. In debt division or in any family law matter, as a former judge pro tem (temporary judge) in family law and civil law cases, Mr. Siegel is extremely knowledgeable about the entire legal process. He has represented people in divorce cases for more than 30 years.
The Law Offices of Eugene M. Siegel welcomes your call or e-mail. We pledge to respond promptly and arrange for a consultation at your convenience.
Dividing Marital Debt in Norwalk, Downey or Surrounding Communities
Contact us online or at 562-862-7541 weekdays between 8:00 a.m. and 5:30 p.m. to learn about all of your rights and entitlements under the California Laws and Statutes as it applies to legal matters. We offer Saturday afternoon appointments upon request. Our office is located on the corner of Florence and Downey Avenue. Free parking is available.