Does Poverty Mean That You Are Exempt From A Messy Divorce?
The last thing you want to hear when you are going through a divorce is that you should count your blessings. What is there to smile about? Now that you and your spouse have suffered an irreversible communication breakdown and have decided to divorce, your financial situation has gone from bad to worse. You might meet someone new, but that would require you to have free time, and you have none, since you work multiple jobs. Dating sites are an option, but those cost money, and you have none, and even if you splurged, you would be competing for the attention of suitors against tradwife influencer gorgeous women significantly younger. At least you can honestly say that you do not blame yourself for your divorce. Your marriage fell apart for reasons beyond your control. You did not cause prices to skyrocket and wages to remain stagnant. Everything else that went wrong in your marriage was just a symptom of economic hardship. This is cold comfort, except when you consider that your divorce case could be so much messier if you had money. For legal representation in a divorce case where both parties are in an unenviable financial position, contact a Birmingham divorce lawyer.
High Net Worth Divorce Is Ugly, So Does That Mean That Dirt Poor Divorce Possesses Its Own Elegant Simplicity?
The bad news is that, the less money you have, the less likely you are to get married, and if you do get married, the more likely you are to get divorced. The good news is that, the less money you have, the less you can fight over in your divorce; this means that the chances of your divorce going to trial are lower.
In every divorce case, the couple must divide their marital assets and debts. This means that there might still be plenty to fight about in your divorce case, even if you have a negative net worth, where the outstanding balance on your debts exceeds the value of your assets. You and your spouse might disagree about whether a certain debt is separate or marital; the law says that all debts incurred during the marriage, regardless of which spouse signed for the loan or spent the borrowed money, are marital, but there are more gray areas about whether a debt is marital than you might expect. Even if it is clear that the debt is marital, there is room for disagreement about which spouse should be responsible for repaying it after the divorce.
You and your spouse can get an uncontested divorce if you have already agreed on how to divide your marital assets and debts. Most couples who get an uncontested divorce have a low income and no minor children.
Contact Peeples Law About Divorce for Debtors
A Birmingham family law attorney can help you finalize your divorce as painlessly as possible if your financial situation is dismal. Contact Peeples Law today to schedule a consultation.
Source:
discover.pbc.gov/coextension/FACS/Family/WhyDebtDestroysMarriages.aspx
