Dividing Student Loans And Other Debts In A Fort Lauderdale Divorce

Worried about getting stuck with your ex’s student loans or credit card debt? You’re not alone. For many couples, dividing debt in a Fort Lauderdale divorce is even more stressful than dividing property.

The way Florida courts handle debt in a divorce could have a lasting impact on your financial future. Our experienced Fort Lauderdale property division attorney explains what you need to know and how to avoid costly surprises.

How The Broward County Family Court Decides Who Owes What

When dividing debts in a Fort Lauderdale divorce, Florida follows the rule of equitable distribution. Marital debt is divided in a fair manner, not equally. Under Section 61.075 of the Florida Statutes, the particular type of debt, when it was incurred, and who benefited from it matters.

Here’s how different types of debt are usually handled: by the Broward County Family Court:

• Marital Debt: Loans or balances taken on during the marriage are typically shared, even if only in one spouse’s name.
• Non-Marital Debt: Debt from before the marriage, or tied to a separate business or inheritance, may remain with the spouse who incurred it.
• Student Loans: If it benefited both spouses, the court might treat it as joint. If it only helped one spouse’s career, it’s more likely to stay with them.
• Credit Card Debt: Shared expenses like groceries or travel may be split, while personal charges, especially those related to infidelity or gambling, might not be.

Judges have flexibility here, especially if one spouse earns significantly more or racked up debt irresponsibly.

Protecting Yourself When Debt Is An Issue In A Fort Lauderdale Divorce 

Experian reports that the average consumer owes over $100,000 in mortgage, car loans, student loans, and other debts. Unfortunately, even if your divorce agreement says your ex is responsible, creditors can still come after you if your name is on the account.

When dividing debts in a Fort Lauderdale divorce, take these steps to protect yourself during negotiations:

• Request a Full Debt Review: Don’t assume anything. Pull your credit report and compare it against bank and loan statements.
• Close or Freeze Joint Accounts: Prevent your spouse from running up more debt in your name during the process.
• Separate the Debt When Possible: If your ex is keeping the car, push for them to refinance the loan into their name.
• Use Protective Legal Language: Make sure your divorce agreement includes “indemnification” clauses that keep you out of collections.
• Plan for Enforcement: Even a well-written agreement is only useful if it’s enforceable. Ask your attorney how to back it up legally.

Contact Our Experienced Fort Lauderdale Property Division Attorney To Learn More About Debts in Divorce

There’s no one-size-fits-all answer to dividing debt in a Fort Lauderdale divorce. At The Law Office of Sandra Bonfiglio, we work with clients to develop smart, enforceable divorce agreements that account for both your short- and long-term financial goals.

Don’t wait until you’re stuck with bills that aren’t yours. Contact our office to schedule a consultation with our experienced Fort Lauderdale property division attorney.

Sources:

leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/Sections/0061.075.html

experian.com/blogs/ask-experian/consumer-credit-review/