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How To Deal With Debts During Divorce


During a Florida divorce, a couple will have to divide all of their marital assets, as well as any debt they accumulated during the marriage. This can cause a lot of confusion for divorcing couples, because lenders and creditors are not legally bound by the terms outlined in a final divorce agreement. At times, even though they have been freed of the debt once the divorce case was final, people find they are still being chased by lenders for repayment of the debt even though it is no longer their responsibility.

In some cases, people do not even learn that their former spouse has been delinquent in payments until it is too late and their credit has already taken a hit for it. If you are getting a divorce and believe the division of your debt will be a part of it, it is important to know how to deal with them.

Joint Loans

It is not uncommon for both spouses to sign a loan document and when they do, they both have a legal obligation to pay that debt. Even when a debt is assigned to just one person during divorce, if they fail to pay it, the lender or creditor will still report all names on the account. To avoid this, which can result in a lower credit rating and difficulty obtaining more loans in the future, it is usually advised that joint loan accounts are refinanced in one spouse’s name only, or that they are paid off before the divorce is finalized.

The Sale of Assets

It is a common misconception that you can simply notify the lender about the terms of your divorce agreement and they will stop pursuing unpaid debt. If you are responsible for a certain debt after the divorce and do not have the funds to pay it, you may have to start considering selling some of your assets. This is often most beneficial when the loan was for certain property, such as a vehicle or the family home. In these cases, sometimes the property can be sold, the debt repaid, and the two parties will divide the remaining equally.


To avoid the problems associated with dividing debt, an Orlando family lawyer will try and collect as much financial information as possible before property division negotiations start. A lawyer will then advise you about any debt-related issues you may face, and make the proper recommendations, such as closing your joint accounts.

Our Family Lawyers in Orlando Can Help with Debt During Divorce

To shield you from taking on responsibility for debts during divorce, it is important to work with an Orlando family lawyer. At Anderson & Ferrin, P.A., our skilled attorneys will negotiate a fair settlement that does not hold you accountable for paying debt that is not rightfully yours. We will also advise on how to avoid debt issues during divorce, and ensure your rights are upheld. Call us today at 407-412-7041 or fill out our online form to schedule a free consultation.

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