If you are divorcing, you will need to identify not just how assets will be divided, but also how debt will be divided. The debt division process is complicated and, often, there are opportunities to lessen the debt you will be responsible for.
At Nichols Law, we can navigate you through the entire debt division process. For example, we can:
- Conduct an inventory of all debts (this inventory is required by the courts)
- Determine which debt is community property and separate property
- Create a proposed property division plan based on fault and tort laws
Often, disputes and other issues arise during and after the debt division process. We can assist with these as well:
- If your spouse continues to inappropriately add to marital debt during your divorce, we can work to halt the activity through an injunction.
- If your spouse or former spouse fails to pay debt that the court deems he or she is responsible for, we can file an enforcement action/enforcement of decree.
Through the above processes and others, we can work effectively to minimize the debt you are responsible for, thus providing you the maximum possible freedom from debt as you transition into a new life. For more information from an experienced Texas family law attorney, please contact us by calling 713-574-8506.