Division of Debt in Texas
During the legal process involving a divorce, one crucial aspect that must be thoroughly examined is the accumulation of debt acquired during the marriage. The division of debt is no simple task, and this tends to lead to disagreement and disputes that can hinder the timeliness of a divorce process.
With the help of a talented Houston divorce attorney, one can correctly assess the total debt with zealous protection against unfair claims of debt responsibility. The lawyers at The Law Office of Eric L. Fredrickson P.C. have a reputation for their keen ability to understanding legal technicalities in the Texas Family Code that are often missed by other attorneys.
Debt Division Methods
The first step to determining debt is properly dividing the assets acquired during the marriage. Depending on the type of property, community property can be problematic with regards to how to divide it. Mutual consent has to be attained as to whether to keep or sell a house owned equally by both parties, for example. A property or asset that requires payments or is associated with debt becomes that much more difficult to divide. Debt associated with a business can be hard to determine because of the future profits that can possibly be incurred.
The firm has the experience to help clients with the following legal actions and procedures:
- Conduct complete inventory of all debts
- Establish which debt is separate or community property
- With fault and tort laws, devise a debt division plan
- Cease unreasonable spending and the accruing of marital debt during the divorce with an injunction
- File for an enforcement action or decree if one spouse or former spouse fails to pay his or her portion of the debt
The firm can not only help adequately divide the debt but also work to possibly minimize the debt you are responsible for by skillfully fighting for your rights.