Family Law

Divorced - And Then Bankrupt

Co-owned credt card debt requires special attention

, The Connecticut Law Tribune

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Imagine this scenario: You represent a spouse in a divorce proceeding in which the couple has co-owned credit card debt. Your client never made a single purchase in connection with that credit card. After the divorce is finalized, the other spouse files for bankruptcy. Your client becomes the target for the credit card company to pursue for the full balance due on that credit card, and the separation agreement you drafted did not specifically account for this possibility. How could this situation have been avoided?

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