Skip to Content
Debt Division

Dividing Debt in Paulding County

Skilled Attorneys with Decades of Experience

Getting a divorce can have a disastrous effect on your finances; in fact, it is among the leading reasons stated by people who declare bankruptcy across the country. While it is common to hear those who are involved in a divorce talk about getting their fair share in the division of assets—such as the house, cars, and anything else owned in common—it is less common to hear about the equally important division of debts.

Don't let your divorce wreck your financial stability! Contact Henrickson & Sereebutra for a completely free consultation with our Paulding County divorce team. We can represent your best interests throughout the process of ending your marriage and can work diligently to see that you are not left paying for your former spouse's debts.

How Is Debt Divided in a Georgia Divorce?

The divorce courts in Georgia follow the principle of equitable distribution, which seeks to divide marital property according to what is fair rather than what is equal. For example, if you and your spouse share $100,000 debt, you will not automatically be ordered to pay $75,000 of it. Instead, you might end up paying more than half—perhaps significantly more—if your spouse demonstrates that you are primarily responsible for the debt, such as through excessive credit card use, medical expenses, or gambling debts.

Similarly, you could avoid paying some or all of the debt if you can prove that your spouse owed the money prior to your marriage. The determination of who pays how much of the debt is largely up to the discretion of the judge; therefore, it is highly advisable to hire a family law attorney who is capable of making a persuasive argument on your behalf to help you avoid being left with an disproportionate share of the debt.

To learn more about the process of debt division in Georgia, and how it may affect your case, read answers to common questions below.

What Is Marital Debt?

Unlike property, which can be categorized as marital and non-marital, all debts acquired during the course of the marriage are "marital debt." Even if you acquired debt under your own name (ex: you took out a credit card alone), it would still be considered marital debt. For Georgia courts, the only concern is determining what debts were incurred after the marriage vows. Any debts that were in your name prior to the marriage will remain your sole responsibility; your spouse will not have to help pay for them.

Are Secured Debts Treated Any Differently?

Secured debts are those backed by some kind of collateral. So, a mortgage might be an example of a secured debt, whereas debt from credit cards would be considered unsecured. This matters as the courts may treat secured debts differently depending on the other circumstances of the divorce. For example, if you decide to keep the house after the marriage, you become solely responsible for the 'debt' of the mortgage. If you intend to keep possession of the collateral, you will need to refinance.

What If I Want to Pay off My Debts?

Often, couples will take the opportunity of divorce to reorganize their finances. In some cases, the courts may allow you and your spouse to eliminate the debt completely through the process by selling off your assets to pay them off. This way, both parties can have a fresh start.

Protect Your Financial Security: Call Us Today

Accurately determining who is liable to pay certain amounts can be challenging, particularly in a marriage of long duration where the spouses financial affairs have become extensively intermingled. You therefore may need to work with a professional financial advisor or accountant. In more complex cases, it may even be to your advantage to avoid having the judge intervene in the matter by pursuing mediation to achieve an out-of-court settlement.

For further help with your case, please contact our Paulding County divorce firm.

  • 75+ Years of combined legal experience
    Read More About The Firm
  • Put Former Prosecutors In Your Corner
    Learn The Benefits of Hiring Us
  • Watch Our Firm's "As Seen On Tv Videos"
    See Aaron Henrickson in Action
  • Take The First Steps to Protect Your Future
    Schedule a Free Evaluation

View Us Through the Eyes of Our Clients

Read What Our Past Clients Had to Say
  • I feel confident there is no other lawyer in the state of GA I would rather have representing my son than Aaron.
    - Annita
  • Theo Sereebutra was recommended to me by a friend and after meeting him and his staff, we were convinced that Theo was our guy.
    - Cecil
  • Aaron and the Firm, including the front desk assistants have gone over and beyond for my case and another one.
    - Former Client
  • Throughout the year Mr. Henrickson provided exceptional concern in my case, returned my calls within a timely manner, and most importantly showed support in any decisions I made pertaining to my case and options.
    - Morgan