Most homeowners have debt associated with their home, usually in the form of a mortgage and/or a home equity line of credit (HELOC). In a divorce process, a mortgage or HELOC is often the largest marital debt on the table, and it's important to understand some of the key considerations in distributing responsibility for it.
Where spouses cannot agree as to how to divide their credit card debt between them, a court will identify what portion of the debt is marital, determine its value, and then divide it equitably (fairly) between the spouses. There are two additional considerations, specific to credit card debt, that it's helpful to be aware of in settling (or preparing to litigate) this issue.
For many divorcing couples, at least one if not both spouses came into the marriage with student loan debt and/or have student loan debt at the time of the divorce. What happens to student loan debt in the divorce process?