
How Debt Is Split in Divorce: Credit Card, Mortgage, Auto & Medical
When couples divorce, dividing assets is often a top concern but what happens to debt can be just as significant. How you split debt can have lasting financial effects for both parties, making it essential to understand how Ohio law handles this issue.
How You Divide Debt in Ohio
Ohio follows the principle of equitable division, meaning debts (and assets) are divided fairly, though not always equally. The court looks at each spouse’s income, financial situation, and ability to pay. For example, a spouse with higher earnings or who receives more assets may also take on a greater share of marital debt.
Debts incurred jointly during the marriage are typically shared, while debts incurred separately remain the responsibility of the person who created them. Transparency is key both spouses must disclose all financial obligations to ensure a fair outcome.
Common Types of Debt in Divorce
- Credit cards: Joint credit card debt is often split between spouses, even if only one person used the card. Closing joint accounts and removing authorized users can prevent future issues.
- Mortgages: If both spouses are on the loan, selling the home and dividing the proceeds is often the cleanest option. Otherwise, one spouse may refinance to remove the other from the mortgage.
- Auto loans: As with mortgages, spouses should refinance loans in both names or pay them off to protect each person’s credit.
- Medical bills: Responsibility for medical debt depends on when it was incurred and whether it was deemed necessary or elective care.
Protecting Your Financial Future
To minimize complications, couples should close or refinance joint accounts before finalizing the divorce and maintain detailed records of payments. Working with an experienced family law attorney can ensure that debts are divided fairly and your financial interests are protected.
At Hoover Kacyon, LLC, we deliver the highest quality legal representation from a team of professionals, while also providing excellent customer service. Call us at
330-922-4491 or
contact us online to make an appointment.
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