What does it mean to be jointly and severally liable for debt in divorce?

When you are jointly and severally liable for debt, both spouses are equally responsible for repaying the entire amount, regardless of who incurred the debt. Even after divorce, creditors can pursue either party for the full balance, making it important to address shared debts in your divorce settlement.

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Debts

Learn about various types of debts and liabilities; how to value them and how they can be addressed in divorce.

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What does it mean to be jointly and severally liable for debt in divorce?

Debts

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