Wednesday, February 02, 2005

What is the Effect of My Divorce Decree on My Creditors?

Answer: Not that much. Debts the community incurs remain community debts in the eyes of creditors. Although it seems harsh many times, both spouses will remain liable for a community debt even though the family court awards responsibility for that debt to one spouse or the other pursuant to a Decree of Dissolution of Marriage (divorce decree). Therefore, if the spouse ordered to pay in the divorce decree does not do so, creditors have recourse against the other spouse. On occasion (not frequently), a creditor will agree to not pursue a spouse based on the divorce decree; however, they have no legal obligation to do so. The law takes the stance that third party creditors should not suffer as a result of a couple’s bad relationship leading to a divorce.

Wilcox & Wilcox, P.C.
Trent Wilcox
For the Firm

Phoenix office:
3030 N. Central Ave., Ste. 705
Phoenix, Arizona 85012
Ph: 602-631-9555
Fx: 602-631-4004

Goodyear office:
1616 N. Litchfield Rd., Ste. 240
Goodyear, Arizona 85338
Ph: 623-344-7880
Fx: 602-631-4004

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Disclaimer: Providing the above information does not establish an attorney-client relationship. To create such a relationship, both the attorney and potential client must sign a written fee agreement. The
information contained herein is meant only as general information and is not meant to be relied upon for the purpose of taking legal action. You should contact an attorney in person for further and specific information. Wilcox & Wilcox, P.C. attorneys are licensed in Arizona only except for personal injury attorney Robert N. Edwards, who is licensed in Arizona and Minnesota.

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