Under California Family Code 2550, the court must divide the community debt equally between you and your ex-spouse when getting a divorce, unless you agree otherwise.
Community debt is any debt that was acquired during your marriage up until the date that you and your spouse separated. Even if your name is not on the debt, you will still be responsible for paying it back.
Acquiring community debt can substantially impact your life if it is a significant amount. If you or your spouse has acquired substantial debt, it is imperative that you speak with a skilled family law attorney.
Debts that are commonly characterizing as community debts, include:
- Mortgages
- Car loans
- Credit cards
- Student loans
If you are concerned about protecting your assets, you need to speak with an attorney from Wallin & Klarich. Our attorneys will explain to you how the division of the community debt will affect you and your family.
During a divorce proceeding, you are very vulnerable. You don’t want to have to pay back more than your fair share or have your ex-spouse take advantage of you.
Hiring a trained family lawyer from Wallin & Klarich will alleviate your concerns and ensure that you interests are protected. You don’t have to go through this alone.
The California Divorce Attorneys at Wallin & Klarich will guide you through the complex legal process, providing answers to your questions and fighting for you.
Call Wallin & Klarich to speak with a trained family law attorney today at 1-888-749-7428. We will be there when you call.
