Divorce Proceedings And Financial Hardship

All divorce proceedings have a significant impact on the future financial health of both ex-spouses and their family. While there are obvious "dual costs" associated with running two households, the most important aspect of a healthy financial future involves the treatment and disposition of joint obligations for debts, like credit cards, auto loans and home mortgages. These common obligations involve responsibilities and legal duties to third parties that are not broken or terminated by a divorce action and continue to connect ex-spouses in critical ways that continue long after the completion of a divorce proceeding.

At the Law Offices of Neil Crane, we counsel divorce clients and divorce attorneys to protect the financial futures of Connecticut families through proven debt relief advice. To learn more about protecting your financial interests, contact us to schedule a Free Consultation at 203-230-2233 or toll free at 888-249-3027.

Joint Debt and Divorce Proceedings

While co-maker or joint obligations to third parties may be apportioned by a judge through a Divorce Decree, third parties are not bound by divorce proceedings. Instead, these creditors maintain full legal rights of collection against either ex-spouse, regardless of Divorce Court apportionments and responsibilities. Husbands and wives are very often co-makers on large and important long-term financial obligations like mortgages, car loans, credit cards and tax obligations that continue long after the divorce proceeding – All of these important third party obligations need to be fully reviewed, evaluated, addressed and properly resolved before the final divorce judgment. Your financial future depends on solid, well-founded and experienced legal advice before any divorce can be properly concluded. Be sure to get the best debt relief legal advice before your divorce goes to Court.

Divorce Pressures Over Common Debts

Co-made debts and financial obligations are always further stressed by the expense inherent in maintaining the two households necessitated by a separation or divorce. Many ex-spouses can find themselves unable to proceed forward financially in any successful or predictable manner when they continue to share legal responsibility for co-maker debts that continue long after a divorce is final. Even obligations that are being paid and current can be a huge obstacle to future financial success by dragging down credit ratings and important debt-to-income ratios.

For more information, contact the Divorce and Financial Hardship attorneys at the Law Offices of Neil Crane for a thorough examination of your financial situation and a discussion of the options that may be available to you. Call us at 203-230-2233 or toll free at 1-888-249-3027.