Going through a divorce can be a tough experience, especially when it comes to dividing debts between spouses. In Rhode Island, debts are treated like assets and must be divided equitably between both parties. This means that both spouses are responsible for paying off any debts acquired during the marriage, regardless of whose name is on the account.
What are Marital Debts?
Marital debts are any debts that were accumulated during the length of the marriage. These debts can include car loans, mortgages, credit card balances, personal loans, and any other type of debt that was incurred while the couple was still together. Debts that were acquired before the marriage or after the separation are typically considered separate debts and are not subject to division.
How are Debts Divided in Rhode Island?
In Rhode Island, debts are divided equitably between both spouses, which means that each spouse will be responsible for paying off a fair share of the debts that were accrued during the marriage. This does not necessarily mean that the debts will be divided down the middle, but rather in a way that is fair and just for both parties.
Can Debt be Assigned to One Spouse?
In some cases, it may be possible for a court to assign a debt to one spouse if it can be shown that the debt was incurred solely for that spouse’s benefit. For example, if one spouse ran up a credit card balance on personal expenses, the court may assign that debt solely to that spouse. However, this is not always the case, and there is no guarantee that a debt will be assigned to just one spouse.
What Happens if a Spouse Doesn’t Pay their Share of the Debts?
If one spouse fails to pay their share of the marital debt, the other spouse can take legal action to enforce the court’s order. This may include wage garnishment or putting a lien on the delinquent spouse’s property. It is important to note that both spouses are still responsible for the debt, even if one spouse fails to pay their share.
What Should I Do if I am Concerned About Dividing Debts in My Divorce?
If you are concerned about dividing debts in your divorce, it is important to speak with an experienced divorce attorney who can help you navigate the process. A skilled attorney can help you understand your rights and obligations regarding marital debt and can work with you and your spouse to negotiate a fair and equitable division of debts.
In conclusion, dividing debts in a divorce can be a difficult process, but it is important to ensure that both spouses are responsible for paying off any debts accrued during the marriage. Working with a knowledgeable divorce attorney can help ensure that debts are divided fairly and equitably, and can provide you with peace of mind during this challenging time.