Getting Divorced in Utah: What Will Happen to Our Debt?
When dividing debt, Utah’s “equitable division” once again applies. The division is made to be fair not necessarily split 50/50 between the parties. If the spouses can reach an agreement, the arrangement will be included in the divorce decree. If an agreement cannot be met, the court will make divisions.
Debt associated with personal or real property, generally, goes to the person who gets the property. So if you get a car and there is still money owed on the car, you also get the debt. Debt that has been accrued to benefit the family is generally split between parties.
Something to be aware of is that creditors are not bound to honor the division of debt specified in the decree even if they have been informed of the division. If one party does not pay a creditor, the creditor can demand payment of the other party, who then has to try to collect money from the other.
Good luck in your search for answers. I hope this is helpful.
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**I am not an attorney and am in no way trying to give legal advice or practice law. The information on this website is for informational purposes only and not for the purpose of providing legal advice. You should contact an attorney to obtain advice with respect to any particular issue or problem.