When I got married I owed money on a line of credit. My wife knew about it before we married. I have been trying to pay if off through the marriage but there is still a large balance.
We are now separated.
Is it only the debt that each of us accumulated during the marriage that affects the equalization payment at divorce time?
I have checked the net for hours(including this forum) looking for clarification with no luck. I am not looking for any advantage to having previous debt and I fully intend to handle it myself in the future.
I would just like to know how, if at all, my previous debt is handled in a divorce.
I have already used up my free half hour of legal advice from a local lawyer but I did not think to ask about this.
Any help would be appreciated.
We are now separated.
Is it only the debt that each of us accumulated during the marriage that affects the equalization payment at divorce time?
I have checked the net for hours(including this forum) looking for clarification with no luck. I am not looking for any advantage to having previous debt and I fully intend to handle it myself in the future.
I would just like to know how, if at all, my previous debt is handled in a divorce.
I have already used up my free half hour of legal advice from a local lawyer but I did not think to ask about this.
Any help would be appreciated.
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