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.