Are debts divided on divorce?

Debts are considered as part of a divorce financial settlement regardless of whose name the debt is in. Debts include mortgages, credit cards, overdrafts, and loans. Joint debts are typically shared equally, while individual debts may be assigned to the spouse who incurred them. The law aims to achieve a fair division of assets and liabilities, taking into account the needs of both parties and any children involved.

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