New York Debt Division Lawyer

Let Eiges & Orgel, PLLC Help You

Like equitable distribution of property and assets, debt division requires adept legal guidance. It is normal for married couples to accrue debts from advanced degrees, declining real estate, credit card activity, etc. Whether you’re facing a contested or uncontested divorce, our New York asset division lawyers can help you fight for a fair debt division agreement. We can help you negotiate a settlement that is not only fair, but protects your future and your financial best interest.

Send us a message to request your first meeting with the legal team at Eiges & Orgel, PLLC. 

What You Get When You Choose to Work With Us:

• We can help you understand your legal rights and obligations.
• We have more than 60 years of collective legal experience.
• We understand divorce laws and can use them to help you.
• We consider the tax implications of your settlement.
• We approach every case with a personalized strategy.

Who will be Responsible to Pay Credit Card Bills?

Credit cards are one of the most common forms of debt. Thus, it is important to understand that, even if your spouse is assigned the debt during divorce, you may still be obligated to pay. How? When you acquire a new credit card, you enter a contract with the credit card company. Judges do not have the legal power to nullify this agreement, so even if your ex is assigned the debt, you may be liable if it goes unpaid.

In the event that you begin paying for a debt assigned to your spouse, you can seek reimbursement for any financial damages you incur by paying the debt. Even though your contract with the credit card company till stands, your formers spouse violates the divorce agreement by refusing to pay. Every divorce is different; learn more about your unique legal options when you contact our family law firm today.

Debt Division Considerations & Tips

• If possible, try to terminate the marriage without any shared debts.
• If you fail to discuss a joint credit card, cancel the account immediately.
• Pay off joint credit cards if you can, although this is not always possible.
• Divide joint credit cards and move each one into the corresponding spouse’s name.
• Have a clear, legal record of who will pay each debt.
• If you have overwhelming debt, speak to a credit counselor.
• Use home equity or joint savings to pay off debts shared with your spouse.