Who is responsible for paying debts in a divorce?

In Indiana, both parties are responsible for their debts incurred during the marriage. This means that each party is expected to pay for any accounts they individually hold, even if those accounts were opened during the marriage. The court will typically require either party to pay the debt or divide debt among the two parties in a fair manner. According to Indiana Code, the court is responsible for deciding how to divide any marital debts acquired during the marriage. When deciding who is responsible for debts, the court will take into account the source of the debt, the duration of the marriage, and the financial needs of each party. The court may order that one party be solely responsible for a debt, or both parties may be responsible for the debt on an equal basis or in proportions determined by the court. In Indiana, creditors can still pursue the debt from the party who they legally hold the debt against. Even if one party is assigned to pay the entire debt amount during the divorce process, the court cannot prevent a creditor from going after the other party for the debt. In conclusion, in Indiana, the court is responsible for deciding which party should be responsible for a debt, but ultimately both parties can be held legally responsible for the debts they accumulated during the marriage. It is important for both parties to be aware of the debts held so that they can equally address and resolve these debts in a timely manner.

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Who is responsible for paying debts in a divorce?

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