While asset division is a critical aspect in divorce, so is division of debt. One of the biggest issues in this respect is how to work through mortgage issues, particularly when both parties are signers. There can be several issues and factors with respect to refinancing, selling, short sales and deed-in-lieu, all of which can be immensely complex.
Ultimately, it is important to protect yourself when splitting debt. Certain assets and liabilities may make more sense to award to one party. All too often, when one spouse isn’t fully aware of a situation, one will try to take advantage of the ignorance and foist debts on to his or her unsuspecting ex. As such, it is extremely important to protect yourself if you are dealing with debt division issues.
For more than four decades, we at the law office of Mary Quinn have been assisting clients with these issues. We will help you optimize debt with a long-term perspective and look toward the future.
In every case, we are clear and forthright with our clients; we present a realistic picture of what clients are facing and how to best deal with all issues. It is also important to realize that bankruptcy laws have changed, in terms of how they affect divorces in Texas. While we do not handle bankruptcy, we have an extensive network of bankruptcy lawyers with whom we can confer and collaborate.
We want to stress that it is extremely beneficial to get in touch the minute you think a problem is developing; early deliberate and decisive action can help us devise strategies and plans to help you reach a best possible outcome. We encourage you to reach out.
Call us directly at 713-364-0400 to discuss community debt in divorce with our Houston family law attorney or contact us online.