The name on the debt/house/property/car, etc.
All the debt's in your name? Worried that you'll get stuck with it in the divorce?
Don't worry. Though Florida isn't a community property state, the result is almost the same. In Florida, if the debt or the house or the car or whatever was acquired during the marriage, it is considered "marital property" or "marital debt." There are some exceptions, but marital property or marital debt are almost always divided equally in Florida between the spouses, regardless on the name on the debt or asset.
4 Comments:
but what can the courts do when the wife gets the house and the mortgage but doesn't pay the mortgage, the the husband gets the mortgage back along with the bad credit. Creditors don't care about divorce decrees so why even put it in them about debts. All the judge says is to do better.
I know it doesn't help your (new) husband now, but I'd never let my client sign off on such an agreement. I'd never agree to trust the ex-spouse to pay the mortgage, letting that debt remain in my client's name. Or, if there was no way to remove the debt from my client's name, I'd structure the divorce settlement agreement in such a way that the ex-spouse's failure to pay is punishable by contempt of court (read: jail).
Yet another good reason why you should never, never, never, never get divorced without a lawyer.
i need HELP!!!! i've been searching the web for some concrete answers. i live in safety harbor and have been separated since march 07. my husband and i were together for 10 years, married for 3. about a year into our marriage we bought a new home, cars, refinanced the condo, etc. all in my name as my husband had bad credit. he hasn't paid the bills since march when i left. all of a sudden he's not making any $$. he's given me some money here and there but nothing compared to the almost $1 mil on my credit report. you read it correctly... $1 MIL. he filed for divorce at the end of august as i didn't have to the money to consult a lawyer. on top of that he dropped my health insurance and canceled my cell and wireless accounts he had through his company without any notice. oh and by the way... i worked for lucent/AT&T for 14 years and in july 05 was told that i needed to relocate to north carolina or be laid off. i was making great pay and benefits and had a job i loved but took the lay off package as we had just gotten married in may of 04 and i loved my husband. he owns a business in downtown clearwater so he couldn't move. he also told me that once the business was sold we'd be taken care of but of course i was "a blind idiot" in love and didn't get anything in writing. do you have any advice or has he done anything he shouldn't have done so far... like canceling my health insurance with any notice whatsoever? i pray for your help and guidance as i'm broke and desperate..
take care
Finally, the right thing is happening. After years of financial abuse, this deadbeat is getting out of your life. It would have better had you divorced him years ago, but, at this point, there is nothing to be done but chalk it off to experience.
Unfortunately, when we marry someone, we marry the whole person. That means we marry their income, we marry their family, we marry their addictions, we marry their spending habits. Hopefully, we marry well. Sometimes, like in your case, we marry poorly.
The good thing is that it's over. He'll be out of your life, and you can begin again, even if it requires bankruptcy for you to do so.
You should speak with a lawyer about a couple of things. First, a judge may require your husband to pay your attorney's fees. You may also be entitled to alimony, at least temporarily. You should also make sure that the insurance was cancelled legally: in Clearwater, judges generally forbid the cancelling of insurance once the divorce is filed.
The bad news is that you married the wrong guy. It's a mistake an awful lot of people make. The good news is that you are finally rid of him. I know it may not seem like it now, but, believe it or not, things are looking up.
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