Because Arizona is a community property state, any and all debt incurred during a marriage belongs to both parties involved and will be considered for division by the court. Just like asset division, debt division can be contentious, stressful and emotionally draining. No one wants to come out feeling like they lost.
Even after the divorce is final, both parties can still be held legally and financially responsible for debt incurred during the marriage. It’s extremely important to have your divorce attorney involved when there is any question about who is responsible for any of the marital debt. An attorney experienced in dividing marital debt, such as Brad Crider, will help that process go smoother.
Crider law will represent your best interests at the time of the divorce and debt division to ensure the best possible outcome. This might include making a case to the courts to prove why the debt may not be yours or to work closely with the other party’s attorney to come to a debt division agreement.
Debt division agreements include working out a plan where one party involved in the divorce takes more or less of the marital debt in exchange for more or less of the marital property, i.e. cars, homes, boats. It’s vitally important to have your attorney involved during these types of negotiations to ensure you are represented fairly.
Give us a call at Crider Law today to discuss marital debt division and how we can help. Attorney Brad Crider is ready to bring his experience and knowledge to work for you.