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Dividing Debts In Divorce: Your Northern Virginia Family Law Attorneys

At Bristle Schulze, we understand that you do not want to walk away from your marriage with an unfair debt load burdening your future – but that can happen if you do not have experienced representation protecting your interests.

Our attorneys represent military members, military spouses, individuals in a high-asset marriage and more. Our clients trust us to guide them through complex divorce issues here in Manassas and throughout Northern Virginia.

Equitable And Equal Division Of Debt Are Not The Same Thing

Virginia law requires the marital estate to be divided equitably – or fairly – in a divorce. Your debts are just as much a part of the marital estate as your assets. Fair does not necessarily mean 50/50.

Broadly speaking, all debt accrued during the marriage is considered marital debt, no matter whose name is on the bill. This can include:

  • Credit card debt
  • Mortgages and liens
  • Auto loans
  • Personal loans
  • Medical debt
  • Business debt
  • Tax debts

Even student loan debt in one spouse’s name may be subject to division in a divorce. While this issue can be nuanced and complicated, student loans can be considered marital debt if they were taken out to benefit the family through the increased earnings capacity the spouse’s education would bring.

If you and your spouse can not agree upon a fair way to split the debts you carry together, the court will make the decisions. The equitable division of marital debts can be influenced by the specific details behind how the debt was acquired, who it benefited, the income and assets of each party and marital misconduct – especially if one spouse purposefully wasted marital resources or ran up the debts for selfish purposes.

Do Not Get Saddled With An Unfair Distribution Of Debt In Your Divorce

At Bristle Schulze, our lawyers offer flexible appointments that can be worked around your schedule. Call 703-278-2027 or email us to get started. We offer low-cost initial consultations that can help you understand more about what we can do.

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