Who is responsible for paying debts in a divorce?

In Virginia, the court typically divides the marital debts between both parties in a divorce. It is important to remember that the court’s decisions are not based on who originally acquired the debt, but rather who is able to pay. This means that each party may have to pay debts that were originally taken out by the other. The court will consider the financial circumstances of both parties when making decisions about the distribution of debts. In addition to their individual debts, couples typically have joint debts as well. When it comes to joint debts, the court will usually assign responsibility for payment to one or both parties. The court may, for example, order one party to be solely responsible for the joint debt or may require both parties to pay a percentage of the debt. The court may also assign responsibility for payment of other debts, such as medical and credit cards. In addition, courts may require one party to pay alimony or child support to the other. The court’s ultimate goal is to distribute the debts so that each party can afford to pay their debts and maintain a reasonable lifestyle post-divorce. The court will also seek an equitable outcome that allows each party to move forward with financial stability.

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