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During a divorce, debt is handled the same as assets. This means, primarily, that courts will try to follow two rules. First, courts will distribute debt based on its marital and pre-marital status. Debt that someone held before the marriage will, in general, remain entirely with that individual. Debt the couple accrued during the marriage […] The post How Is Debt Divided During a Divorce? appeared first on SmartReads by SmartAsset. ....
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Paying off student loans is, of course, a huge problem. But often overlooked is how complicated it becomes when couples are in the middle of a divorce. ....
The North Carolina Court of Appeals has unanimously ruled in a case of first impression that both parents are on the hook for student loans taken out for an adult child because the debt benefits both parties and is therefore classified as marital debt. The appeals court’s Nov. 16 ruling affirms the order of Moore County . ....