There is no fixed method for determining how property should be divided. If the husband and wife negotiate an agreement, the court will probably approve it. If no settlement is reached, the court will decide how to divide the property. Property settlement agreements are binding and generally cannot be modified. All liabilities must also be divided when dissolving a marriage.
Consideration is given to the type of debt and the circumstances under which it arose.
Factors influencing the property division are also applied when dividing obligations. Most credit and charge account agreements provide for joint liability for any charges added to joint accounts. If you wish to maintain credit with certain creditors, separate accounts should be opened. Like any judicial order, a judgment for dissolution will be enforced by the court. Various legal remedies are available.