What Happens with Debt in a Colorado Divorce Case
A Colorado divorce case brings on a host of issues and legal problems. Responsibilities need to be defined and determining who is liable for those issues can be a sticky subject. Dealing with child support in Colorado is a major issue in a Colorado divorce case, but handling debts can also cause headaches.
The main reason for these headaches is the relative ambiguity of how Colorado divorce laws define this issue. According to the law, a divorce calls for an “equitable division” of assets and liabilities. This does not mean that a divorce calls for a 50/50 split of everything. It actually calls for a fair treatment of debts and assets, so that the split is relatively equal for both parties.
Unfortunately for some couples, this is regardless of whose name is on the debts. If, while you were married, your spouse secretly obtained a new line of credit and used thousands of borrowed dollars behind your back, you may still wind up partially liable for that debt. It is for this reason that many couples will consult the Johnson Sauer Legal Group, LLC, for assistance in navigating a messy divorce in Colorado.
The Colorado divorce lawyers at the Johnson Sauer Legal Group, LLC, will fight for your case in court. In this way, we can help you get the fair treatment you need when going through the drama of a divorce. When it comes to handling debt, we can trace debts and how they have changed throughout the marriage. This method of tracing debts can be key in determining who is responsible for the debt, or if there is equal responsibility. Because the issue is dicey at best, a Colorado divorce lawyer from the Johnson Sauer Legal Group, LLC, can offer the direction that you need to keep the issues clear and avoid confusion throughout the divorce process. For more information on dealing with debt in a Colorado divorce, visit http://www.denverfamilies.com.
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Get a Better Understanding of Your Colorado Divorce from the Sauer Johnson Legal Group, LLC
If you are going through a Colorado Divorce, you may have many questions. There are a number of things to consider when dissolving a marriage. You may wonder about how your property will be distributed or who will be paying for certain debts.
We Strive To Answer All of Your Colorado Divorce Questions
[Posted on Jan 16]
If you have filed for a Colorado divorce, or if you are considering filing for one, you are likely to have many questions about the divorce process. Since the process usually proceeds quite quickly, you could be left stunned and confused if you don’t educate yourself about what to expect. Colorado divorce starts with filing a Petition for Dissolution of Marriage. This petition will be served on your spouse who will then be able to respond to it with a formal Response to Petition. In the Petition you will have to address the following matters: assets, debt, alimony, child support, visitation, custody, decision-making and attorney fees.
After you have filed the Petition for Dissolution of Marriage, a judge will likely set your divorce case for a Status Conference after the petition has been officially filed with the court. This first court date can be very helpful if you are well prepared. Being prepared for your Colorado divorce Status Conference means that you should be able to provide any and all relevant financial statements, a case management plan, a proposal for Colorado Child Support and alimony as well as visitation and parenting time. The court is going to want your input on these issues in order to make an informed decision at the Conference.
At the Initial Status Conference, the judge might decide that your case would benefit from a Temporary Orders Hearing. This hearing is a chance for you to get the court to issue temporary orders for such things as child support, parenting time, maintenance, payment of debts associated with the marriage or attorney fees. These orders are only valid until your divorce becomes final, but they allow you to maintain your current lifestyle, support your children, and pay your bills.
Colorado divorce laws state that you must have a 90 day waiting period after the Petition for Dissolution of Marriage has been served upon your spouse, "the other party". After the 90 day waiting period has ended, it is possible that the court may set a final hearing for your divorce case. During this Permanent Orders Hearing, a judge will hear testimony and see evidence that will allow him to issue final orders on all matters in your case. After both parties and their attorneys read and agree with all of the orders, you will sign a Divorce Decree and the marriage will officially be over.
