Attorney representation in Atlanta, Georgia

Allocation of Debt Attorney

The allocation of debts is one of the most important issues to settle during a divorce.

The separation of property and assets such as physical property and other immaterial assets like debt are one of the issues that can hold up a divorce proceeding if not handled carefully by an experienced Atlanta family lawyer.

Just as with physical property, divorcing couples may decide on their own how to separate their assets and financial debts. However, in contested divorce cases where the parties cannot agree on this matter, one of our Atlanta Family Lawyers can petition a judge to allocate the debts between you and your divorcing spouse.

In such cases, a judge will rule on which debts belong to each party respectively or if certain debts are “marital debt.”

Our Atlanta Divorce Lawyer Can Help You Get a Fair Allocation

Marital debts are those debts that both parties are responsible to pay down. Generally, the decision regarding the allocation of debts follows the same general principles as physical property, that is, all debts must be equitably distributed.

No client wants to be held responsible for more debt than they actually owe. If you know that you or your spouse is in debt, it is an excellent idea to seek counsel with one of our Atlanta family lawyers to determine how best to protect your financial rights during your divorce.

If you have questions about the potential allocation of debt in your case or require legal representation during a divorce, one of our Atlanta family lawyers can help. We are a team of expert family law attorneys can successfully handle even the most complicated cases. Contact us today for a free initial consultation with a leading Atlanta family lawyer.