More debts than assets when going to trial

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More debts than assets when going to trial

Unread postby dadsdivorce » Tue Apr 12, 2005 11:34 am

I live in the state of Florida and trial date has just been posted. When dividing marital assets (personal debt greater than asset value) what happens if the liabilities acquired during the marriage are greater than the assets?
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Unread postby dadsdivorce » Tue Apr 12, 2005 11:35 am

Most jurisdictions will divide the debts in a very similar manner as they divide the assets, looking at similar legal factors and facts. It is likely that you will both walk away from the marriage "in the hole".
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