Marital assets aren’t the only thing that needs to be split up between divorcing spouses. Many couples have debts that came up during the marriage as well. These debts can be anything from credit card bills to a mortgage and could be a very important part of a divorce settlement. Through using a divorce mediator in Greeley Colorado, you and your spouse can divide up any debts of your divorce in an equitable way that takes into account factors such as earning potential or property division. Your divorce mediator in Greeley Colorado can help you and your spouse come up with an agreement on what will happen with your marital debts so that you can keep debt division issues out of court.
There could be a number of different reasons why splitting marital debts 50%/50% is not the best solution to debt division issues. For example, one parent may be getting the marital home because of child custody arrangements, and it may be best that they keep the mortgage on that home. On the other hand, one spouse may have spent more in unsecured credit card bills and most of the debts belong to them. Finally, each spouse may want to keep their individual cars and, therefore, the loans on those cars.
Regardless of the type of debt a couple has, using a divorce mediator in Greeley, CO is one potential option that could involve the couple resolving the issue themselves, as opposed to having a judge decide. Through resolving debt division issues on their own, spouses can be sure that they have a division of debt that takes into account all that is important to them, resulting in a savings of money and court time.