How is debt divided in Virginia divorce? After the market crashed in 2008, we handled a lot of cases where there was more debt than anything else. It was terrible. Houses were underwater, and I’ve never seen such high credit card debt. In fact, at that point, it seemed like a lot of people decided to stay together because they really couldn’t even afford to divorce. As the market has picked back up, so too have the number of divorces. I mean, I get it. If you’re going to lose too much, it’s … [Read more...]
Refinancing in Virginia Divorce: 3 Things to Know
3 Things to Keep in Mind When Refinancing Your Home Real property is often one of the biggest items to address in divorce and we have to figure out what will happen to it. A lot of our clients tell us they want to keep living in the former marital home after the divorce, which typically involves a refinance. There are things you need to keep in mind when making that decision: The first question to ask is” Do I Need to Refinance?” If you and your husband are listed on the mortgage and deed, and … [Read more...]
Money in Divorce
Worrying about money is the worst. When you’re not quite sure how you’re going to pay your bills, keep a roof over your head, provide for your children, save for retirement, hire a divorce attorney, and put food in everyone’s bellies, it’s a concern. Not to mention all the little extras that come up, and how uncomfortable it is to have to say no to invitations and social stuff because you honestly don’t have the money to pay for it. And, of course, this time of the year, we’re heading into … [Read more...]
How is debt divided in Virginia divorce?
Everything gets divided in divorce---including the debt. If you really think about it, it’s not all that surprising. If you get half the dishes and he takes half the dish towels, certainly at some point you’re going to start talking about that Sears card. Or the line of credit that helped you renovate your kitchen. Or the loans on the cars—that you refinanced to help pay for the downstairs guest bathroom remodel. The average American carries a staggering amount of debt. From student loans to … [Read more...]
