What Happens To Joint Credit Card Debt During A Fort Lauderdale Divorce?

After years of sharing everything with your partner, getting a divorce in Fort Lauderdale can quickly shake up your finances. In addition to major bills, such as your mortgage or car payments, joint credit cards can quickly become a source of stress.

In Broward County divorce cases, credit card debt doesn’t just disappear. Even if the court assigns responsibility to one spouse, creditors can still pursue both account holders. Our experienced Fort Lauderdale divorce lawyer explains your options and how taking action early plays a major role in protecting your rights.

How The Broward County Court Handles Credit Card Debt in a Fort Lauderdale Divorce

Under the Florida Statutes, anything earned or acquired by you or your spouse is divided equitably during Broward County divorce proceedings. Rather than a 50/50 split, judges consider various factors to reach a fair settlement.

In addition to marital property and assets, marital debts are also subject to equitable division, including credit card balances. Factors a judge will consider in determining how they are divided and who is liable include:

• When the charges were made.
• What the purchases were for.
• Whether both spouses benefited from the debt.
• Each spouse’s ability to repay.
• Any unusual or excessive spending before the divorce.

Keep in mind that while a Broward County Family Court judge may assign credit card debts to one spouse, that does not change your obligation to the creditor if your name remains on the account.

Steps You Can Take to Protect Yourself Against Divorce-Related Credit Card Debts In Fort Lauderdale

Recovering financially from a divorce in Fort Lauderdale can be difficult enough. It makes it even harder when you are saddled with credit card debts. Sadly, in some cases, a soon-to-be former spouse may actually increase their spending either shortly before filing a Broward County divorce petition or during divorce proceedings, leaving you on the hook.

Taking early action can reduce your exposure and help protect your financial future during the divorce process. Steps you may want to take include:

• Reduce credit card debt (or avoid any new debts) before filing for a divorce.
• Close or freeze joint credit accounts.
• Monitor your credit report regularly.
• Thoroughly document any recent charges and account activity.
• Work with an experienced Fort Lauderdale divorce lawyer to address credit cards and other debts in your settlement.

These steps can prevent surprises, protect your credit score, and help you make a fresh financial start after a divorce in Fort Lauderdale.

To Protect Against Credit Card and Other Joint Debts, Consult Our Experienced Fort Lauderdale Divorce Lawyer Today

Joint credit accounts can create lasting problems if not handled carefully during Broward County divorce proceedings. Having a clear legal strategy can help you limit liability and protect your credit moving forward.

At Vanessa L. Prieto Law Offices, we help clients navigate debt division and protect their financial stability. Concerned about joint credit cards or other shared debt? To consult our experienced Fort Lauderdale divorce lawyer, contact our office today.

Source:

leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/Sections/0061.075.html