One Cause of Divorce – Community Debt
Many things can be the cause of divorce, but community debt is a big factor. The stress caused by owing money can wreck havoc on a relationship. But it can wreck havoc on a divorce too.
Numerous studies have shown that money is the most commonly fought over issue in marriages. So it makes sense that it would be a contentious problem in a dissolution. If you can’t solve your financial woes when you are still getting along, why should you be able to solve them when you separate?
Community debt is all debt created by either party during the marriage. The one exception is student loans which are always separate property.
Community creditors will call upon either or both spouses to pay community debts. The Judgment in a case assigns the debts to one party or the other equally, but this does not stop the creditors to come after both. Creditors are not controlled by the final Judgment because they are not a party to the action.
If one party is forced to pay the other’s assigned debts, they can go to court to have the other party’s wages garnished.
One cause of divorce is community debt. But community debt can follow you after the marriage is terminated. Be sure to know your rights and responsibilities regarding community debt.
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