Insights & Guidance
How Debts Are Dealt With During a Divorce
Debt and Divorce - Divorce can be one of the most emotionally and financially challenging experiences a person can go through. While much of the focus often falls on dividing assets, it's equally important to understand how debts are handled.
Joint and individual debts
In England and Wales, debts accrued during the marriage are generally considered part of the matrimonial finances, regardless of whose name they're in. The court looks at the overall financial picture when deciding on a fair settlement.
Reaching a fair outcome
Factors such as each party's income, needs, and contributions all play a part. Getting early advice helps ensure debts are accounted for fairly and you aren't left shouldering more than your share.
More Articles
More from the Harrington Blog
What Is a Specific Issue Order? | Family Solicitors West Yorkshire
What is a Specific Issue Order and when can you apply for one? Our specialist family solicitors explain how these Orders work, common examples and how the Family Court decides disputes about children.
What Is Parental Responsibility? | Family Solicitors West Yorkshire
What is parental responsibility and who has it? Our specialist family solicitors explain what parental responsibility means, who can make important decisions about a child and what happens when parents cannot agree.
What Is a Prohibited Steps Order? Everything Parents Need to Know
What is a Prohibited Steps Order? Our specialist family solicitors explain when one may be needed, how parental responsibility affects important decisions, and how the Family Court approaches these applications.