Divorce and Division of Debt

Divorce is  decision people can make. That does not mean that it is an easy one to make, however. When you have assets and debt held in common with your parter, things can get complicated quickly.

A skilled attorney will help you, but this guide will give you a good start.

Common Causes of Divorce

Most of the time, when people get divorced, they did not anticipate it. People do not get married to get divorced. However, thousands of divorces happen each year. 

What are the most common causes of these divorces?

Lack of Communication:
Couples report lack of communication is the most significant factor influencing divorce decisions. You need to remain communicative with your partner. No matter how long you are together.

Growing Apart:
Some couples report that throughout their marriage, they grow apart. This is more common when people get married young. Young adults grow into many different middle-aged adults a lot of the time. 

That is not a bad thing, but it could mean you are incompatible with someone you married when you were young.

Financial Difficulties:
Financial difficulties commonly cause excessive stress. Financial stress is one of the leading contributors to divorces as well.

Lowering your monthly bills clear to help relieve much stress and make a divorce less likely.  You can use a tool to help you compare electric utility rates.   But don’t stop there.  Actively pursuing a course of reducing all of your monthly expenses can make a huge difference in your family finances, and reduce the stressors that may be underlying all of your issues.

Divorce and Division of Debt

When you hold debt in common with your spouse, the process of divorce can be complicated. Most states do not have specific rules that split that 50-50 between partners.
 For example, in the state of Texas, debt division is determined by the judge. The only requirement is that the debt division is just and proper.

Asset Division:
Asset division is another complicated aspect of a divorce. The state will determine the rules of this. We recommend consulting with an attorney if you have assets held in common with your partner and pursue a divorce.

Starting Over Financially After Divorce

Most people that get divorced must start over financially after. This can be a daunting task, but you will make it through these difficult times by following this advice.


Sometimes the amount of debt that you are left with after declaring divorce is not maintainable. 

 It would be best if you did not make this decision lightly, however. When you declare bankruptcy, it takes seven years for it to fall off of your credit profile.


Sometimes when you get married to someone, you forgo having a career. This can cause difficulties with your earning ability after divorce. You may have a significant gap in your job history. 

You will need to work against the odds to overcome these obstacles. Consider going back to school and expanding your skill set if you have difficulty finding a sustainable career.

Living Within Your Means:

The most important thing you can do when you get divorced is to live within your means. Most people that get divorced are accustomed to living with a two-income household.  When you get divorced, you must live on a single income. 

This can be a difficult transition, but it is a necessary one. Living within your means ensures that you do not rack up even more debt after the divorce is finalized.

Final Thoughts on Divorce and Debt Division

Divorce is  an important decision people can make. That does not mean that it is an easy one to make. 

We recommend trying to work things out with your spouse if possible. We all have difficulty in our relationships, but many times this can be overcome with clear communication.