Easily Delete Payment Field in the Divorce Settlement Agreement

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How to Delete Payment Field in the Divorce Settlement Agreement

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can you file a content petition against your ex for failing to make payments or turnover property as required by your marrow settlement agreement hi im alicia kenshow the owner of cancer law a family law practice based in the philadelphia area now when people divorce sometimes they can come to an agreement between themselves or with the help of their attorney or a mediator and decide how to split their marital assets and their debt and this will usually be a sometimes a very long document with a lot of clauses in there that spells out exactly whats supposed to happen and when its supposed to happen and then often what happens if it does not happen so what type of recourse the other party may seek and what they may be responsible for um if theyre not able to come to an agreement then the court can fashion an order that will stay basically the same thing whos supposed to get what whos supposed to do what and in what time frame theyre supposed to do it now there are some difference

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How does credit card debt work with divorce?

In most states, you are responsible for all credit card debt incurred in your name in a divorce. You will not be responsible for your spouses credit card debt if it is in their name only. In community property states, if the card originated during the marriage, you are responsible for 50% of the debt.

How do I remove debt from my credit report after divorce?

Because it is accurately reported, the debt will not be removed from our credit report unless the lender agrees to change your contract. Your best option may be to pay the debt in full, if you can and seek recourse in collecting the debt from your ex- spouse. It will then be updated to show it has been paid.

Are credit cards considered assets in a divorce?

If you file for divorce and you have any shared credit card debt with your spouse, in the state of California, you are both equally liable for paying it off. California is a community property state.

Can a creditor come after me for my ex-spouses debts?

Yes. A debt collector may contact you to collect the debt if your name is still on the debt or loan agreement, or if you are otherwise still legally responsible for the debt.

Can a creditor come after me for my spouses debts?

If your spouse is assigned a joint debt or a debt in your name and does not pay, the creditor can still come back after you directly. Even if your divorce decree orders your ex-spouse to pay a debt, you may still be sued by a creditor if your name is on the debt.

Am I responsible for my spouses credit card debt in divorce?

You are generally not responsible for your spouses credit card debt unless you are a co-signer for the card or it is a joint account. However, state laws vary and divorce or the death of your spouse could also impact your liability for this debt.

How do I avoid paying taxes on divorce settlement?

Under Section 1041(a), the IRS doesnt require taxes when property transfers between former spouses if that transfer occurs incident to the divorce. Any transfer of property is assumed to be incident to the divorce so long as its either called for in the divorce settlement itself or if it occurs within one year of

Who pays credit card after divorce?

Generally, courts divide the couples debts and assets, while deciding who is responsible for paying specific bills. Some states consider the assets and debts each spouse brought into the marriage. Other states consider everything to be owned equally.

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