Making the decision to get a divorce is a difficult one, but it is a decision that thousands of Wisconsin residents make each year. The marriage could have lasted only a few short years, or maybe even decades, but in each couple’s situation there are a number of factors to consider before ultimately filing the divorce case. For some, what will happen with the child custody and child support addressing minor children is the primary concern. For others, splitting up funds and property is the main issue. But, no matter what the situation, it is important that all factors are considered.
One factor in a divorce case that needs to be considered may surprise some people: debt. As a recent news article noted, the issue of how to address debt in a relationship can be a difficult one to navigate. These days, many couples have thousands, if not hundreds of thousands, of dollars in debt. Student loans, car loans, mortgages – they all add up.
Typically, if a person had a certain amount of debt before the marriage occurred – student loan debt, for example – that debt will remain with that particular person in post-divorce life. However, any debts accumulated during the marriage, such as credit card debt and mortgage debt, for example, will be split evenly between the divorcing spouses in a divorce case in Wisconsin.
The decision-making time leading up to filing a divorce case, as well as the time when the divorce case is pending, can be a difficult and emotional time for Wisconsin residents. However, it is important to focus on the legal process and the many issues that need to be addressed in the divorce case, including debt.