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With any divorce, there is a potential for debt to be divided between you and your ex-spouse. If it’s marital debt, then both of you may be responsible for the debts after your marriage ends, even if the debts are assigned to only one person.

If the person responsible for those debts doesn’t pay, the credit card company could come looking for you to pay what’s owed. If that happens, you might find yourself in a difficult position and need to find a way out of debt to protect your finances. While you can seek to hold your ex-spouse responsible for the debts, the creditors will continue to pursue you for the money they need in the meantime. If your ex goes into bankruptcy, then you may be the one who has to shoulder the burden in the end.

Should you enter bankruptcy after divorce?

If you end up struggling with debts that the other party is not taking care of despite their obligation, you may find that you’re being affected by collection calls and harassing letters. If that sounds like your situation, you may wish to look into bankruptcy.

Bankruptcy can help eliminate debts that are causing you trouble, especially when they’re unsecured, such as credit-card debts. You should be aware that trying to prove that you don’t owe the debt due to your divorce decree may not do much to help you. Most creditors don’t care about divorce decrees, because you already have an agreement with the creditors from before your divorce.

If your ex-spouse was supposed to make payments and doesn’t, your credit can still be hurt. The credit-card company can still come to you seeking payment. However, if you file for bankruptcy, the responsibility to pay the credit cards will likely shift back to your ex-spouse.

Bankruptcy may not be the only solution in your case, but if you want to make sure that creditors can’t seek compensation from you, this is one solution that will work. You may wish to try to negotiate if you earn enough to pay off the debt, then go to court to seek payments from your ex-spouse for failing to pay the debts assigned to them.

Whether you try negotiation, enter into bankruptcy or take your ex-spouse back to court, it’s a good idea to have someone on your side who understands the laws in Tennessee and how they apply to your case.