Marital debt question


#1

I am not certain about this but I believe that any debt accumulated during the marriage is considered marital debt regardless of whether the bills are in one name only. My suggestion is that if you are getting separated you have an agreement drawn up that states you are responsible for the car loan and credit card in your name and he is responsible for the loans and debt in his name. Since the loans are not in both your names you should only need to get an agreement stating that they are separated responsibility. The marital home will either need to be sold or refinanced to removed one of your names.


#2

All debt accumulated during the marriage is marital debt unless it was spent for non marital purposes. A non marital purpose would be something along the lines of an affair. Expenses for a hobby, clothing, etc. are expenses incurred during the course of a marriage and are generally considered marital debt.

Helena M. Nevicosi
Attorney with Rosen Law Firm

4101 Lake Boone Trail, Suite 500
Raleigh, North Carolina 27607
919.787.6668 main phone
919.787.6361 main fax

Charlotte Office
301 McCullough Drive
Suite 510
Charlotte, NC 28262
Main Phone: (704)307.4600
Main Fax: (704) 9343.0044

Durham & Chapel Hill Office
1829 East Franklin Street
Building 600
Chapel Hill, NC 27514
(919) 321.0780

ROSEN.COM

The response posted above is based upon the limited factual information made available and is not intended as a full and complete response to the question. The only reliable manner to obtain complete and adequate legal advice is to consult with an attorney, fully explain your situation, and allow the attorney sufficient opportunity to research the applicable law and facts required to render an accurate opinion. The basic information provided above is intended as a public service only, a full discussion with an attorney should be undertaken before taking any action. The information posted on this forum is available for public viewing and is not intended to create an attorney client relationship with any individual. These answers are provided for informational purposes only, a person should consult with their own individual legal counsel before taking any action that could affect their legal rights or obligations.


#3

Who determines whether it’s marital/non marital debt? I’ve objected to having several cars and a motorcycle and I have no idea what he charges on his credit cards, he goes out to lunches, charges gas, stuff he wants that I have no control over. All these things he does without my consent and it’s an individual account. How is it fair I be liable for his frivoulous expenditures that have no revelance to me or the house?

I’m stuck in a situation in which I can’t leave. Our house was built on my family’s land, but the land is deeded to both of us. It had to be done that way to secure the mortgage. He says he wants no part of the house and that he will sign it over to me and I will assume the debt on the house. But he’s made no effort to move and it’s been over a year. I feel trapped because I don’t have the money for an attorney, everybody wants 2-3000 for a basic separation agreement. I would have to take a loan out to pay for that and if he won’t leave I sure can’t afford a court battle. I make too much for legal aid, yet I will have to work two jobs if he moves out to cover expenses and still can’t afford an attorney. I’m so frustrated and stressed I don’t know what to do.


#4

When I got my sep agg I had put in the agg that her debt is hers and my debt is mine and we both signed it and there was nothing else she do thank goodness I did, I didnt think she even knew how much she was in debt until it was to late.
But I think if he agrees there should be no problem if not then you should be spliting these items up in the ED.
Hope the best for you


#5

Presumably, if he created debts for vehicles then you also own the vehicles, this means that the debt would probably be paid by the person who takes the vehicle. If there is debt on credit cards, then the statements would need to be examined to determine what the money was spent on. If the money was spent pursing an affair or other non-marital interest it would be his separate debt. Money spent on food, clothing and hobbies are generally marital unless the hobby was obscenely expensive.

Helena M. Nevicosi
Attorney with Rosen Law Firm

4101 Lake Boone Trail, Suite 500
Raleigh, North Carolina 27607
919.787.6668 main phone
919.787.6361 main fax

Charlotte Office
301 McCullough Drive
Suite 510
Charlotte, NC 28262
Main Phone: (704)307.4600
Main Fax: (704) 9343.0044

Durham & Chapel Hill Office
1829 East Franklin Street
Building 600
Chapel Hill, NC 27514
(919) 321.0780

ROSEN.COM

The response posted above is based upon the limited factual information made available and is not intended as a full and complete response to the question. The only reliable manner to obtain complete and adequate legal advice is to consult with an attorney, fully explain your situation, and allow the attorney sufficient opportunity to research the applicable law and facts required to render an accurate opinion. The basic information provided above is intended as a public service only, a full discussion with an attorney should be undertaken before taking any action. The information posted on this forum is available for public viewing and is not intended to create an attorney client relationship with any individual. These answers are provided for informational purposes only, a person should consult with their own individual legal counsel before taking any action that could affect their legal rights or obligations.


#6

What is considered marital debt? My husband has several loans for cars, motorcycles etc, and credit cards with high balances. All of these are soley in his name and were done without my consent. I would guess about 50-60K. Would I be made responsible for any of this? My debt is not nearly that signigicant. I owe maybe 12K on a 16K carloan and about $200 on a credit card. I do not believe in having a lot of debt and he buys what he wants. All of our debt is separate, the only thing we hold jointly is our mortgage.