FAQ: My spouse and I have a few valuable assets beyond our home, but we have substantial debt. How will that debt be handled in our divorce?
Debt is also divided by the courts in a divorce. In some cases, the spouse with the higher income level will be allocated a greater portion of the debt, and in other cases, the spouse who receives the asset that secures the debt will remain responsible for that associated debt (for example, if you are awarded the marital home, the courts may decide it is equitable that you remain responsible for the mortgage payments). The courts can also order that certain marital assets be sold to satisfy the debts. Debt and credit are an important consideration in any divorce, and you should consult with an attorney—especially if you have jointly held credit cards that your spouse could continue after the divorce is final.