During a divorce the division of assets is typically one of the most fiercely contested issues. But what is often underappreciated is that the fair allocation of debts can be just as important. This gets even more tricky when it comes to the difficult task of try to trace the origin of and reason for debt. A common example could be something like a large cash advance on a joint credit card. Cash advances typically lack direct documentation as to how the cash funds were used. If you are going through a divorce, and your spouse put a large cash advance on your shared credit card then used that money for their personal use, you need to contact an experienced attorney to ensure that this debt is properly allocated so that you are not unfairly held to be legally responsible.
You Must Protect Yourself Going Forward
If you are in Ohio and beginning the process of divorce the first step you should take may be to cancel all joint credit cards that are in your name. You need to protect yourself from having additional debt being added to the balance that is still in your name. If your spouse has already taken a large cash advance against your joint credit account, you are at very high risk that they might do it again.
Proving and Fighting Your Spouse’s Debt
If you get a divorce in the state of Ohio, debt is divided through a process known as ‘equitable distribution’. This doesn’t mean that the distribution will be shared equally between the spouses. In many cases it’s actually quite the contrary. Equitable debt distribution means that the debt will be distributed in a manner that is ‘fair’. If your spouse took a large cash advance for their personal use, after the process of divorce had already started, it may not be ’fair’ to distribute that debt to you. You should document everything. Get all of your credit card statements together. If you were already separated from spouse the court can characterize that debt as “separate.” Separate debts belong only to the spouse who incurred the debt. An attorney experienced with cases involving the allocation of debt in divorce can help you prove this debt and then fight it. You should not be forced to pay unfairly.
Contact a Columbus Family Law Attorney
If you are in the process of divorce and your spouse put a large cash advance on your shared credit card for their personal use it is important that you speak with an attorney to ensure that this debt is fairly allocated. Contact the Law Offices of William L. Geary at (614) 289-1227 to speak to an attorney who can help you make decisions that are best for your situation.