How is marital debt distributed?

In South Carolina, marital debt is distributed when a couple divorces according to the principles of equitable distribution. Equitable distribution means that marital debt is divided in an equitable or fair manner between the couple, taking into account the circumstances of each party. This does not necessarily mean that the debt will be split exactly in half; rather, the court will decide what is equitable based on the facts at hand. Generally, the court will consider factors such as duration of the marriage, the age and health of both parties, income potential and liabilities, as well as contribution to the marital debt. The court can also consider other factors such as separate property or inheritance, as well as contributions to the household and marriage. While there is no set formula for distributing marital debt, the court will generally consider the parties’ needs and abilities to fulfill the debt obligations. Generally, the court will take into account the earning capacity of each party, as well as other factors in determining what is equitable under the circumstances. The court may also consider the circumstances leading to the divorce, such as fault or misconduct of either party. Once the court has determined an equitable distribution of marital debt, each party is responsible for their individual share of the debt. This means that both parties are liable for their portion of the debt, and that the debt cannot be transferred to another party. Additionally, both parties have the responsibility to make payments on the debt as agreed upon.

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How is marital debt distributed?

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