Bills accumulated during marriage

[Mom]

After our separation I paid some of my ex's bills that were accumulated during the marriage, they were in his name only. Was I wrong to do this, or would I be legally responsible to pay half. Also we had a credit line, and he bought a truck and put in on the credit line, he is in possession of the truck, am I responsible for that also, since my name is on the credit line? The truck was worth a lot of money and I am worried that I will have to pay half of it, even if it is in his possession! I am worried sick about this because their is no way I could afford another payment. Anybody with any answers would be greatly appreciated! Thank you,

Mom

[logicalvelocity]

The vehicle was accumulated during the marriage regardless of registered name. Assign a value for the net equalization list...

Welcome to the forum...

[Mom]

The value of the truck would have gone down, however we still owe the full amount. Are you saying that yes I have to pay half the amount of the price we paid for it because it was accumulated during the marriage.

[blinkandimgone]

You'll figure out the value of your total combined assets and total combined debts, subtract the lower one from the higher and the remainder is split between the two of you - whether that comes out as assets or debts.

[logicalvelocity]

You'll figure out the value of your total combined assets and total combined debts, subtract the lower one from the higher and the remainder is split between the two of you - whether that comes out as assets or debts.

In effect net equalization...

[billiechic]

You do have the opportunity to work out a deal though. If he has possession of the truck it is reasonable to assume he will continue to pay for it. In terms of equalization he will show the truck as an asset (not you) and you will both share the debt owing on it. You can always ask him to assume the debt (and have it transferred into something only in his name!) or any other method that equalizes the assets/debts.