Full question:
Husband bought his own house and moved out we still see each other frequently. Better now then when we lived together. He said he's going to file for Divorce to protect both of us in case something should happen to either of us so we wouldn't be responsible for each others debts. Nothing is in both our names together. Is what he's saying true?
- Category: Divorce
- Subcategory: Property Settlements
- Date:
- State: New Mexico
Answer:
Generally, one spouse is not responsible for the other’s debts if the debts are in individual accounts and the spouse is not an authorized user, surety, guarantor, or cosigner. This is true especially if you do not live in a community property state. However, in community property states, a non-debtor spouse's assets could still be at risk. For instance, in cases like bankruptcy or divorce, creditors may pursue jointly held assets, such as a shared bank account. If your spouse agrees to pay a joint credit card debt but fails to do so, the creditor might successfully sue you for that debt. State laws vary regarding debt responsibility based on when the debt was incurred, who incurred it, and the debt's purpose.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.