Liability for a Spouse’s Credit Card Debt After Divorce

 Posted on September 13, 2024 in Adoption

When you realize you are headed toward divorce, your mind can be flooded by endless thoughts and concerns about what will happen to you financially. There are child support and alimony payments to think about. You and your spouse will have to figure out how you will be dividing your marital assets. On top of it all, couples getting divorced in Illinois also need to settle how they will divide their marital debt. If your spouse has amassed significant credit card debt, you are probably wondering whether you will be stuck paying for it all. A seasoned Wheaton, IL family law attorney can discuss all these issues with you and answer any questions you have.

Debt Division in an Illinois Divorce

Since Illinois follows an equitable distribution model, any assets and debts that a couple obtained during their marriage are fairly divided between the two spouses. As with asset division, debts are not divided equally, but fairly. If your spouse’s credit card debt was the result of covering the costs of your children’s education, household maintenance, or your career development,you will likely have to cover part of it. If the debt is from unnecessary spending on luxury items, that becomes less likely. Every case is unique and the court will consider all the relevant factors before deciding who needs to pay for what.

What is Marital Debt?

Illinois law differentiates between separate debt and marital debt. Card debt from before your marriage began is generally considered the exclusive debt of that spouse. On the other hand, regardless of whose name appears on a card, credit card debt incurred during marriage is typically considered marital debt. The expenses of marital debt need to be covered by both spouses in a divorce, but one spouse’s separate debt is generally theirs alone to pay for.

Proper Documentation is Key

Throughout the divorce, keep careful records about anything related to debt incurred during your marriage. When you begin drafting your divorce settlement, it is essential to be as detailed as possible about your financial responsibility in general, and what debt you need to cover in particular, as this can also help with issues that might come up in the future.

For example, even if you divide the marital debt in your divorce, a card used for joint purchases might make you both liable to a creditor. If your ex does not pay her credit card bills, the creditor could come to you to pursue payment. This is why it is so important to document everything relevant about your finances in the divorce.

Schedule a Free Consultation with a DuPage County, IL Debt Division Lawyer

If you are concerned about needing to cover your spouse’s debt, speak with an experienced Wheaton, IL divorce attorney to understand your options. At Davi Law Group, we understand how distressing it can feel when you think you will need to pay for your spouse’s financial irresponsibility, and we are dedicated to helping you resolve these issues smoothly for the best outcome. Call us at 630-657-5052 to schedule a free consultation.