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Showing posts from January, 2020

Division of Debts in Maryland Divorce Cases

Financial concerns such as debts have given birth to many divorces. Unfortunately, even after getting apart, debt issues never disappear until resolved. From credit cards to student loans, debts can make situations worse if you don’t know about the law and order of the state. You should know about several laws such as tax laws, corporate laws, debt laws, and even estate law Bethesda to bring yourself out of these situations. Before we tell you how the debt is divided between two former partners, you should know about sole and joint debt and how liability works in both situations. To clear the air, let us tell you that any debt your ex took before your marriage is none of your concern. Any loan including auto loans, student loans, or even credit cards that your former partner took prior to the marriage has to be settled by him or her. Maryland Code §4–301 states that you have nothing to fear in case your ex fails to make payments associated with previous loans. Unfortunately, any