Legal Question in Credit and Debt Law in Florida
What happens if my husband and I have joint assets after marriage and separate debt that was incurred before we were married that is in Judgements on his credit report? Will our joint estate be responsible for the debt, or should we have separate estates made?
2 Answers from Attorneys
The marital estate owns the assets that you purchased after you got married. You are each responsible for the debts you incurred before you got married.
Say the husband had $10,000 worth of credit card debt when he got married and the wife had none. After marriage, the couple buys a house which, during the divorce, the judge orders them to sell. The house nets a $50,000 profit which the couple splits, per the judge. The ex-wife keeps her whole $25,000 from the house profit. The ex-husband may have to pay off his premarital credit card debt of $10,000 from his $25,000 house profit, but that may be up to him as to how he spends his money.
see www.ConsumerLawyerHelp.com re garnishment.
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