New York Debt Division Lawyer
Let Our NYC Divorce Lawyers Help You
Like property and asset division, debt division requires adept legal guidance.
It is normal for married couples to accrue debts from advanced degrees,
declining real estate, credit card activity, etc. Whether you’re
facing a contested or
uncontested divorce, our New York asset division lawyers can help you fight for a fair debt
division agreement. We can help you negotiate a settlement that is not
only fair, but protects your future and your financial best interest.
Send us a message to request your first meeting with the legal team at Eiges & Orgel, PLLC.
What you get when you choose to work with us:
- We can help you understand your legal rights and obligations.
- We have more than 40 years of collective legal experience.
- We understand divorce laws and can use them to help you.
- We consider the tax implications of your settlement.
- We approach every case with a personalized strategy.
Who will be Responsible to Pay Credit Card Bills?
Credit cards are one of the most common forms of debt. Thus, it is important
to understand that, even if your spouse is assigned the debt during divorce,
you may still be obligated to pay. How? When you acquire a new credit
card, you enter a contract with the credit card company. Judges do not
have the legal power to nullify this agreement, so even if your ex is
assigned the debt, you may be liable if it goes unpaid.
In the event that you begin paying for a debt assigned to your spouse,
you can seek reimbursement for any financial damages you incur by paying
the debt. Even though your contract with the credit card company till
stands, your formers spouse violates the divorce agreement by refusing
to pay. Every
divorce is different; learn more about your unique legal options when you contact
the NYC family law attorneys from our firm today.
Debt Division Considerations & Tips
- If possible, try to terminate the marriage without any shared debts.
- If you fail to discuss a joint credit card, cancel the account immediately.
- Pay off joint credit cards if you can, although this is not always possible.
- Divide joint credit cards and move each one into the corresponding spouse’s name.
- Have a clear, legal record of who will pay each debt.
- If you have overwhelming debt, speak to a credit counselor.
- Use home equity or joint savings to pay off debts shared with your spouse.
The Importance of a New York Divorce Attorney
The outcome of debt division during your divorce will have a profound effect
on your future. Whether you are facing a high net worth divorce, a collaborative
divorce, or you are pursuing a
legal separation, our law firm can help. When we represent you, you will not be working
with three lawyers but will have one lawyer dedicated to your case and
providing the personalized service you deserve. You will get the direct
number of the attorney working with you and except for in an uncontested
divorce, which can be assisted by a paralegal, there will absolutely no
layers between you and your attorney.
Get the guidance you need!
Contact our office today and set up a no-risk consultation with Eiges & Orgel, PLLC.