Queens, NY asked in Divorce for New York

Q: Is my spouse responsible for at least a portion of debts we accrued when married?

We have a personal loan under both our names and a loan on my deferred compensation under just my name. Took the loans out to consolidate our debts. We have no children and no other assets in question other than my pension and deferred comp. Thanks very much for any advice you can offer.

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2 Lawyer Answers
Howard E. Knispel
PREMIUM
Howard E. Knispel
Answered
  • Commack, NY
  • Licensed in New York

A: Certainly an argument can be made that debts accumulated during the marriage, used for the household. Are marital debts and should be paid by both parties. Talk to an attorney for a more specific answer.

Lawrence Allen Weinreich
Lawrence Allen Weinreich
Answered
  • Garden City, NY
  • Licensed in New York

A: Debts taken for marital purposes are marital debt to be shared. How they are divided is something to be negotiated or if you can't decide then it will be decided by a court.

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