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Thursday, April 24th 2014

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Divorce and debt: Advice on dividing up, paying off debt

How to deal with jointly held debt during a divorce

By Anna Bleker

Divorce and debt

Divorce is stressful enough. When jointly held debt is involved, things get a lot more complicated.

It's best to pay off shared debt before divorce, so that credit card companies don't blame you for your ex's failure to pay up. While shedding debt is ideal, it's not always that easy. If you're in a tough financial situation and can't pay off debt before divorce, you'll have to divide up the debt, which can get tricky.

Read the stories below for advice on dividing debt and rebuilding your credit during and after a divorce.

See related: How bad credit affects a new marriage, Mine, yours and our: Marriage and your money, 4 common myths about debt and marriage, How to cope when spouse's secret debts come to light, Tips for uncovering, dealing with hidden credit card debt

Published: August 24, 2010


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