You may be asking – who pays for what while a divorce is pending? If you are unsure about who is responsible for settling certain bills before the divorce process is over, then this post should be quite helpful to you. Read along and find out what bills must be paid, as well as who needs to do it.
Before you determine who pays the bills, you first need to gather documents that are relevant to your bills such as checking and savings bank accounts, utility bill, tax records, insurance records and credit card bills. You need to have your very own copy of these documents, as well as your attorney for proper organization. This will allow you to determine bills that are considered as individual debts or those you share with your partner.
For instance, if the debt is only in your name, then you have the responsibility to pay for it during the divorce process. On the other hand, debt held in both your and your spouse’s name is a marital debt. Thus, the payment should be settled by the two of you while the divorce is pending.
Identify the Means of Settling Debts
In the case of a marital debt, it is important to determine how this must be paid. With an unsecured marital debt, this must be settled before the divorce proceedings begin. However, if this is impossible to accomplish, there will be a division of joint debt that must be paid equally by both parties throughout the divorce.
There are always some complications that may arise when it comes to debt payments during divorce. To avoid these issues, it helps to consult a lawyer who can guide you further in this case. You can also get legal advice that will spare you from waste of time and money in making the wrong actions in the end.