DIVORCE
DEBT

Generally, both spouses are equally responsible for paying the full amount of joint debt. For
example, if both spouses opened a joint line of credit, they will both be responsible for the full
amount owed. Creditors can then pursue both spouses for the repayment of same. Accordingly,
if one spouse does not pay his share of the joint debt, the other spouse may be liable for the
entire amount.

Often, separation agreements stipulate which spouse will pay which debt(s). However, these
agreements are not binding on third party creditors. Thus, one spouse might still be liable for
the other spouse’s debt, notwithstanding a clause in the separation agreement to the contrary.