Don’t Get Divorced Before Doing This First!
While divorce can ultimately be the step towards happiness for some couples, the process of getting there is rarely easy, especially when finances come into play.
Going through a divorce can be incredibly stressful. That stress only gets worse when you have to deal with sorting out finances and debt.
You already know you’ll need to find a good divorce attorney. However, there’s one person you should consider adding to your team before proceeding with divorce…
Hire A Debt Attorney
A debt attorney could be the key to making your divorce happen faster and more smoothly. Along with the division of assets, you’ll be working to resolve the debt that mounted up during the marriage. A debt attorney can work together with your divorce attorney to help resolve debts to everyone’s satisfaction and provide guidance as to how a divorce will ultimately affect you from a financial standpoint. The purpose of divorce is for each party to ultimately end up in a better, happier place. Finances shouldn’t stand in the way of that.
Dealing with debt can be murky when divorce is part of the picture. Though the laws vary from state to state, generally speaking, just because your divorce decree states one person is responsible for paying a particular loan, it doesn’t release you from being responsible for it. If your name is on a loan and that loan goes unpaid at some point, it’s you who creditors will be coming after. With that being said, it’s often in your best interest to pay down as much debt as possible beforehand. That’s where hiring a debt attorney can work to your advantage. A debt attorney can help you get your debts and financial obligations in order. They’ll work with your divorce attorney to resolve financial matters to both parties’ satisfaction. They can help provide guidance to help both of you avoid bad debt post-divorce.
With divorce comes a change in lifestyle, and ultimately, a change in finances and financial planning. Understanding how a divorce will impact your financial situation is important. After all, the goal in divorce is for both parties to end up better off! When there’s unresolved debt on the table, there’s potential for even more messiness post-divorce. Rather than being able to move forward, you’ll both be hindered by financial reminders of your marriage and you both put yourselves at risk.
Whether you think you need help or not, it certainly doesn’t hurt to ask. You can call Tayne Law Group at 1-866-890-7337 for a free, no obligation consultation today! We’ll work alongside your divorce attorney, or would be happy to recommend one to you.