Money is one of the biggest issues in a divorce. Divorcing couples bicker over assets, cash, alimony and who owes what in terms of child support. But these most often talked about money issues are not the only financial challenges facing couples who want to get an online divorce – debt is also a factor. Debt could become a stumbling block to couples who want to file a cheap online divorce because debt can make any divorce process more complex. Let’s take a look at some of the issues facing couples tackling the debt monster:
Couples fighting over which debts to pay or who are unable to make payments on their debt may not qualify for an online divorce. All issues related to money and debt should be settled before using Flash Divorce to file a no fault divorce. In a traditional divorce process, the payment of debts must be settled in family court with the help of a PA divorce lawyer. The judge decides who is responsible for each debt and then makes an order in the divorce decree for one or both spouses to pay the debt. If couples want to take advantage of a cheap online divorce, they need to settle their debt issues amongst themselves before contacting Flash Divorce. If the debts are simple, such as a mortgage,
credit card or car note, then coming to an amicable agreement should be easy, especially if both parties are gainfully employed. However, if there are debts in dispute, such as an accusation that one spouse illegally took out joint credit card accounts, then it may be best to work with a PA divorce lawyer to settle the disagreement. Whatever you do, make sure to get any agreements in writing.
Bankruptcy And Divorce
Filing bankruptcy should not impact a couple’s ability to file an online divorce. As long as it’s an uncontested divorce, the couple with a bankruptcy should be able to qualify for an affordable online divorce. However, couples who have filed bankruptcy jointly or separately should be advised that a bankruptcy filing could impact who is held responsible for paying a debt. For example, if your spouse filed bankruptcy and
you didn’t, you might be held financially responsible for any unpaid debt if you were a joint account holder. If you want to dispute your responsibility for this debt, you won’t be able to do so using the online divorce process. It is advised that you speak with a divorce attorney if you suspect that your spouse is filing bankruptcy and might discharge some or all of the debt for which you both were responsible.
Mortgages and Divorce
Buying a home is a big part of getting married. However, once couples want to file an online divorce, the biggest debt dispute can involve their mortgage. Selling the marital home and splitting the profit is the easiest way to settle mortgage debt before an online divorce. However, since the housing market is depressed as of this writing, it might be difficult to sell the home and cover the cost of the mortgage and this is where problems can arise. If your home has fallen into foreclosure and you want an online divorce, make sure that you and your spouse are not in
disagreement about who will be responsible for paying any deficiency balance after they home is auctioned off.