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Dividing debt during a divorce can be as challenging as separating assets, and it requires a clear understanding of state laws, the nature of the debt and each spouse’s financial situation.
Because divorce law varies from state to state, it is important that divorcing spouses inform their attorney about student loan debt and any possibility of getting that debt discharged through ...
Debt — in the form of loans and credit card debt — may be considered a marital asset. This can cause problems if the debt is joint and one ex-spouse misses a payment.
If your soon-to-be ex refuses to work with you at all, you can hire an attorney or pursue mediation. In fact, your state may require mediation in certain cases before you can proceed any further.
Divorce (also known as dissolution of marriage) is the process of terminating a marriage or marital union. [1] Divorce usually entails the canceling or reorganising of the legal duties and responsibilities of marriage, thus dissolving the bonds of matrimony between a married couple under the rule of law of the particular country or state.
The federal Divorce Act of 1968 standardized the law of divorce across Canada and introduced the no-fault concept of permanent marriage breakdown as a ground for divorce as well as fault-based grounds including adultery, cruelty and desertion. [106] In 1986, Parliament replaced the Act, which simplified the law of divorce further. [107]
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