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November 2017 Archives

Joint debts after divorce threaten individual credit

Divorce settlements in Missouri represent court orders that establish every aspect of a couple's split. In addition to dividing property, the settlement assigns debts, like mortgages, car loans or credit card balances, to each party. Jointly held debt, in which both partners signed the loan agreement while married, cannot be entirely overturned by a divorce settlement. Because the creditor has both people on the loan, the creditor still has the ability to pursue payment from one person even if the divorce settlement requires the other ex-spouse to pay the debt.

Nearly all divorces have a few things in common

44699825_S (1).jpgA Missouri divorce can be complicated, or it can be straighforward. It may be done with or without attorneys and with or without courtrooms, but there are a few procedural steps that every divorce has in common. The exact path of the process varies on a case-by-case basis, and there are options when it comes to making divorce filings. In nearly all cases, divorce begins with filing and continues through service, response, negotiation and agreement.

Factors that can lead to divorce

21234513_S.jpgFor the most part, Missouri couples want to believe that their marriages will last. However, science shows there are certain factors that indicate a marriage could end in divorce. These factors range from the age people get married to the way they argue.

Rates of divorce vary drastically by state

13371859_S (1).jpgWhile the overall rate for divorce hovers around 50 percent for all age groups, the number of people who divorce by the end of their 30s varies drastically around the nation. For Missouri, this rate is about 13 percent, which puts it in the middle of the national range. In general, states in the Deep South have higher rates of pre-30 divorce, with Arkansas having the highest at a rate of near 20 percent. States in the northeast have lower rates, with New York coming in at the lowest of just under 5 percent.

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Stange Law Firm, PC

Stange Law Firm, PC
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