Debt Division in San Antonio
Information from an Experienced San Antonio Attorney
When couples go through the divorce process in Texas, their shared marital assets undergo evaluation for division. What many people fail to realize is that their debts are also subject to division. Any debts accumulated during the marriage will be reviewed for possible division during divorce proceedings and, in certain cases, will be allocated between the two spouses.
If you are about to embark on the divorce process and anticipate dealing with significant debts, it is vital to have the guidance of a knowledgeable and skilled attorney. At the Law Office of Bryan Fagan, PLLC, our team of San Antonio attorneys understands the importance of reaching a fair and favorable debt division agreement and will work to protect your interests at every stage of the process.
You can face your divorce with confidence. Contact our firm today to explore your legal options:
- What Happens to Marital Debt During a Texas Divorce?
- How are Credit Cards Handled in a Texas Divorce?
- What am I or My Spouse Entitled to During a Texas Divorce?
How Debt Is Divided in San Antonio
Unlike other states, Texas does not automatically divide all debts incurred during a marriage between both spouses in a divorce. Instead, the courts evaluate the circumstances surrounding each individual debt. If it is determined that only one spouse is responsible for the debt (or the creditor extended credit based solely on the assets of one spouse), the debt will remain assigned to that spouse. In other words, marriage does not automatically create joint liability for incurred debts.
However, there are instances when certain debts will be considered shared:
- When one spouse acts as the agent of the other spouse
- When the money is used to acquire necessary items
Generally, necessities include food, shelter, medical care, and clothing. However, some areas may be subject to debate and clarification before the judge. If you have additional questions or concerns regarding how your community debt may be evaluated during your divorce, it is crucial to consult with an attorney who is prepared to safeguard your financial well-being.
We offer free consultations. Complete our online form to request yours today.