Albuquerque, NM- Divorcing couples have a lot to think about and work out. Property division and child custody are the two main issues, but couples must also think about what will happen with their debts. This especially important considering that the average American is carrying over $200,000 in mortgage, credit card, student loan and medical debt. How debts are treated in each state depends on the types of debt and where they live, which we will discuss here.

For most couples, their mortgage is their largest debt. Nerd Wallet estimates that many Americans owe an average of $156,584 on their mortgages. The marital home is usually a couple’s most valuable assets and often becomes the center of contentious divorce battles. When it comes to mortgages, there are a number of ways to divide this debt in divorce. In some instances, a spouse can be awarded the marital home and take responsibility for paying the mortgage. Or, the mortgage payment can be divided between both spouses. Or, a couple can decide to sell the house outright and divide the proceeds.

The ways mortgage debt is handled vary, so a couple is advised to get the assistance of a divorce lawyer in New Mexico. They can outline your options and help you and your spouse decide what to do about your mortgage debt.

Another major debt among New Mexico couples is credit card debt and how it is handle is generally straightforward. If, the credit card is joint the amount owed is typically divided equally between each spouse. Separate accounts should be paid the person whose name is on the account, though some in some divorce settlements, a spouse may agree to pay off their spouse’s credit card debt. If you don’t think you should be required to pay all the debts a divorce attorney may be able to get you some relief.

Dividing medical debts can get tricky. In New Mexico, which is a community property state, medical debts are generally divided between each spouse. This is true whether a couple were formally separated or not living together when the debt was accumulate.

In case one spouse refuses to or fails to pay a debt they are responsible for, there are ways they can be forced to pay, but it can be a difficult process. For some, a property lien or court orders will be enough but divorce courts aren’t allowed to garnish wages or use similar means to collect those debts.

Figuring out what to do about debts can be complex and frustrating. It is an issue that can be as emotional as any other issue divorcing couples have to deal with. That is why a couple can benefit for hiring one of the divorce attorneys at USAttorneys. They will work to resolve any child custody problems or issues over asset and debt division a couple may have as quickly and with as little acrimony as possible.