By: Melissa L. Exline, Esq.
Divorce can be an expensive endeavor. It can be worse when the married couple is drowning in debt. Paying for the lawyer and setting up a new household after divorce, are just a couple of the big things that siphon proceeds from your pocket as well. Legal bills and court costs come even before a person gets their share of property, child support or alimony. Because of this, it is very helpful to make sure to take care of the financial expenses by way of proper planning. While it is stressful, the freedom you will get down the line will be worth the struggle.
Getting organized with debt is the first step. Gather your information and make a plan to keep the minimum payments going. If possible, it is good to discuss with your spouse who is going to deal with which bill. Also, be very careful about adding to the debt. At the end of the day, neither spouse can know how the debt will be divided and it is a good idea to protect your credit.
