What Happens To Join Debts When We Divorce? | DiPietro Law Group, LLC

Transcript

Joint debts are treated similarly to joint property, and the division of debts is governed by the same law that applies to property division in Virginia, known as equitable distribution. This process involves the division of property and the allocation of debts.

The court will consider several factors when deciding how to handle debts. If you’re in a negotiation, your attorney should be familiar with how courts typically treat debts like yours and the factors a judge would apply. Whether you’re negotiating or going to court, you can either reach an agreement or obtain a ruling on how the debts will be divided.

Some factors considered include when the debt was acquired, the purpose of the debt, the age of the parties, and if there are any fault grounds for the divorce.