Legal Question in Family Law in New Jersey

Re: Divorce

Your question is too involved to be answered on this forum. However, if the debt was incurred during the marriage then it becomes marital debt, and is subject to equitable distribution. As with any other asset, the value of the business has to be determined. A small business can become very complicated during a divorce, and I do not have enough information from your post to provide you with a complete answer.

I would be happy to follow up with you. Please email me directly or call my office if you would like to schedule an appointment either in person or by telephone. My contact information is listed in the links below.

Disclaimer: You can not rely on the advice of an attorney given over the internet. The exact facts of your situation, including facts which you have not mentioned in your question, may completely change the result for your situation.

Re: Divorce

The business debt is a marital debt which should be paid off with marital assegts, if they exist. otherwise you may have to declare bankruptcy.

Call me if you like.

Gary Moore, Esquire

Hackensack, New Jersey

www.garymooreattorneyatlaw.com

Re: Divorce

I agree with the other attorneys. Basically, your situation is not a simple one. I suggest you get an attorney to handle your case to help you resolve the situation either by negotiating with the creditors or by selling the marital assets. I do both, as I practice debtor/creditor law and family law.

My initial consultations are always free and I have offices in Toms River and New Brunswick.