It is important for Joliet, Plainfield, and other Will County residents to protect their property interests when going through a divorce.  Marital debt is significant part of a spouse’s interests, and understanding how marital debt is divided is useful to better understand the divorce proceedings.

Marital debt is considered marital property, much like a house or a car the couple bought together.  It is the debt incurred during the course of the marriage. Not all debts incurred by a spouse during the marriage is considered a marital debt, and non-marital debts will usually be owed by the individual, alone.

The division of marital property and debt can be divided by agreement between the spouses during a divorce. A Judge will look over the agreement to make sure it is not grossly unfair, and will sign off on it if it’s acceptable. It is important to have an attorney read any agreement to make sure you are fully protecting your interests.
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