San Antonio Debt Division Attorney

Divorce Lawyer for Debt Division in San Antonio, TX

When couples decide to end their marriage, understanding how debt is allocated can impact both parties' financial futures. With over 15 years of experience in family law, attorney Brandon Wong has successfully handled numerous divorce cases involving debt division. Backed by more than 225 five-star reviews from satisfied clients across the web, his reputation for achieving favorable outcomes for his clients is well-established.

Understanding Debt Division in a Texas Divorce

In Texas, divorce law follows the principle of community property. This means that the assets a couple acquired during their marriage are considered to be the mutual property of both spouses, regardless of whose name appears on the title or account. This same rule applies to debts, which can include any financial obligations incurred while a couple was married.

However, not all debt is divided equally. The court may consider several factors when determining who is responsible for specific debts, including the circumstances that led to the debt, each spouse's ability to pay, and whether the debt benefited both parties. For instance, if one spouse took out a loan for a personal expense, the court might assign that debt solely to them. Conversely, debts incurred for household necessities, such as groceries, housing, or children's education, may be shared.

Attorney Brandon Wong can help you navigate these nuanced issues, ensuring that your rights are protected throughout the process. His extensive experience in debt division cases allows him to identify potential financial pitfalls and work to prevent unfair outcomes.

Common Types of Marital Debts in Divorce

• Credit card debt: If these debts were accrued during the marriage, they will likely be considered community debt.
• Mortgage loans: If a couple's home is sold, any outstanding mortgage debts will generally be split. If one spouse keeps the house, they will most likely assume responsibility for the mortgage.
• Medical bills: Expenses related to medical treatment received during the marriage can be shared between both parties, even if the services were rendered to only one spouse.
• Personal loans: Any loans taken out for vacations, home renovations, or other expenses during the marriage may be treated as community debts.

How Brandon Wong & Associates Can Help With Debt Division

Through careful documentation, financial analysis, and a strategic approach to negotiation, Brandon Wong can provide you with the guidance needed to understand your financial situation and how it might be impacted by your divorce. He offers insightful advice on how to handle debts, negotiate with creditors, and work toward solutions that will protect your financial future.

Property Division and Debt Allocation

Texas law requires a just and right division of both debts and property. This does not necessarily mean a 50-50 split, but one that the court deems fair based on various factors. In addition to the nature of the debt itself, the court may also consider the following when dividing both assets and liabilities:

• The length of the marriage
• The financial status of each spouse
• Child custody arrangements
• Each spouse's earning capacity
• Any misconduct that may have caused the debt

Property division and debt allocation often go hand in hand, especially when large assets such as a home or car are involved. If one spouse is awarded the home, they may also take on the mortgage, while the other may receive a larger share of other assets to compensate. Attorney Brandon Wong will ensure that all these factors will be carefully considered, advocating for the best possible outcome for you.

Avoiding Debt Disputes in Divorce

Attorney Brandon Wong will work with you to avoid disputes whenever possible, either through negotiation or mediation. He is skilled at finding solutions that will allow you to reach an agreement without resorting to litigation. However, if court intervention is necessary, he is prepared to present a strong case to ensure that you will not be burdened with an unfair share of debt.

Contact Our San Antonio, Texas Debt Division Lawyer

With over 15 years of proven and trusted experience, attorney Brandon Wong is well-equipped to handle even the most complex divorce cases. He will provide effective, results-driven legal representation to help you protect your financial future. For compassionate and skilled legal guidance, call 210-201-3832 today or contact us online.