Long Beach Debt Division Lawyers
Helping Couples Fairly Divide Their Liabilities
The decision to divorce is never easy. You might be dreading the challenges and trauma that so many have experienced in the courtroom. Perhaps you are fearful of what this is going to do to your financial situation. Will you get stuck with your partner’s debt? Will you lose ownership of your assets? These concerns are entirely normal.
At Alternative Divorce Solutions, we strive to take a better approach to divorce. Rather than being cast into a courtroom where you are at the mercy of the judge, you can resolve your issues in a peaceful environment while remaining in absolute control of the outcome. Our Long Beach debt division lawyers are here to help every step of the way through the divorce mediation process.
How Debt Is Split in Divorce
California is a community property state. That means all property and assets are divided fairly and equitably between spouses during a divorce. The same is true for all debts that spouses accumulate throughout their marriage. You and your spouse share the responsibility of paying back your community debt.
Common types of debt divided in divorces include:
- Credit card debt
- Car loans
- Business-related debt
- Home equity lines of credit
- Medical expenses
In determining the equitable division of these liabilities, a court will consider many factors, including the duration of the marriage, the amount of debt each spouse incurred, and the assets that each spouse receives.
Debt is not an issue that people like to leave in a judge’s hands. It may be much more preferable for you and your spouse to agree on which party is responsible for paying certain debts during the mediation process. Arriving at a fair arrangement outside the courtroom can save money, time, and stress.
Contact Our Long Beach Debt Division Attorneys Now
In a divorce, property and debt division can be extremely contentious. This is understandable, seeing that both of you want to make sure you get what is fair and are not required to pay off more debt than you are liable for.
Regardless of how contentious this issue may be, our attorney-mediators can work with you to help you arrive at a fair agreement. Contact us today for a free one-hour consultation to find out if our services are right for you.
Reach out to Alternative Divorce Solutions at (562) 454-0335.
“Thank you for all your knowledge, conscientiousness, and kindness.”- Beverly
“First and foremost, I found that I had a lot to learn about the divorce mediation process. I did not exactly know what the role of the mediator was or if we would still have to go to Court.”- Donald B.
“I was so stressed out before I went to ADS. Once I got there Lani sat with me and my husband and explained the whole mediation process. After I left I knew exactly what to expect and ADS lived up to my expectations.”- Giz S.