Divorce shares debts as well as assets

17/09/2009

The stress of divorce could be made even worse if debts, as well as assets, are split between spouses.

According to Law firm Davis & Associates, debts within the married couple could be divided. And that's not just joint debt like a mortgage – it could be extended to any personal debt situation? Take our Debt Calculator test today!'>personal debts gained during the marriage, like a car loan.

Bankruptcy is one option if the couple are amicable to go down this route jointly, says Davis & Associates.

But if you're left with money problems on your own after a divorce, an option to take control of the situation is to seek debt advice from debt solutions firms.

EuroDebt is seeing more and more people coming to them for Debt Management Plan'>Debt Management Plans or Individual Voluntary Arrangements'>Individual Voluntary Arrangements'>IVAs – that's an Individual Voluntary Arrangement.
There are ways to get yourself out of debt without borrowing more if you seek professional debt advice from money management companies like EuroDebt.

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