Division of Debt

Division of Debt in Divorce - Kingwood Divorce Attorney Brian McNamara

There Is No Such Thing As “Community Debt” in Texas

Although lawyers often speak of “community debt” in the context of divorce, there is actually no such term in the Texas Family Code. To be accurate, there are debts that are acquired during the marriage that must be dealt with upon divorce.

Assigning & Division of Debt Requires An Experienced Attorney

Usually, the debts are divided as part of the overall division of the community estate. Whether a debt is paid from community assets or assumed by one party depends on the individual situation. Sometimes, debts are paid from the sale of a residence or stock; occasionally, there’s money in savings to pay off some debt. Often, the debt is assumed by the spouse who receives the asset that secures the debt.

Credit Cards, A Thorny Issue

Credit cards can be a problem if one spouse is the primary party on a majority of the cards. We cannot change the arrangement with the creditor and if one spouse is liable for the debt, it’s risky to allow the other to assume responsibility for that card. If it is not timely paid, the negative notation goes on the credit report of the responsible party, and the divorce decree is meaningless to the credit reporting agency.

Brian J. McNamara is a Houston Lawyer Who Has Divided Hundreds of Thousands Of Dollars Of Debt

At the McNamara Law Office, PLLC in Kingwood, TX, we have resolved hundreds of divorces and assigned huge amounts of debt. In fact, it’s rare that a divorce does not involve debt. Be assured that a heavy debt load is not an unusual situation, and we are experienced at dealing with such issues.

Contact McNamara Law Office now to schedule a consultation with an experienced divorce lawyer specializing in division of debt.

Geographical Areas Served:

Kingwood, Huffman, Lake Houston, Atascocita, Humble, Oakhurst, Walden, Walden Woods, Walden on Lake Houston, East FM 1960, The Woodlands, Fall Creek, Eagle Springs, Lakeshore, Silverlake, Redstone, Summerwood, Eagle Lake, West Lake Houston Parkway, The Heights, Greater Heights, Houston Heights, Downtown Houston, Memorial, Allen Parkway, Montrose, Houston Neartown, Houston Midtown and East Montgomery County.

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Steve KokotasSteve Kokotas

02:01 06 Aug 24
High integrity, smart, and hard working. You want Brian McNamara on your side.

Macie SheppardMacie Sheppard

14:43 05 Aug 24
I cannot express enough how grateful I am for the incredible support and guidance I received from McNamara Law Office. They truly care about their clients and go above and beyond to achieve the best outcomes! Highly recommend!

Stephen SpeesStephen Spees

18:34 13 May 24
Brian, Amanda, and Renee provided excellent guidance and legal support when it was most needed. I highly recommend their timely and professional services.

Lele ShahimLele Shahim

17:37 09 May 24
I wanted to take a moment to express my gratitude for your exceptional work. Your dedication and efficiency have not gone unnoticed, and I truly appreciate your commitment to excellence. Thank you for consistently delivering quality results in such a timely manner!! Mr. McNamara finished my paperwork in 2 days and I appreciate all the support I got from everyone in the office!! Thank you All !!

Karen QuinnKaren Quinn

22:10 25 Apr 24
McNamara Law Office is exceptional andincredibly attentive and detail-oriented, making sure every aspect of my case was thoroughly addressed. Their professionalism and dedication to my case were outstanding, and I felt supported and well taken care of throughout the entire process. I am grateful for their expertise and would not hesitate to turn to them for future legal matters.

Cathy QuinnCathy Quinn

14:05 24 Apr 24
An amazing, knowledgeable and professional team. I highly recommend McNamara Law Office.

Douglas JonesDouglas Jones

01:18 24 Apr 24
These people are amazing. They are helping my family through the worst event of our lives and I really couldn’t ask for a higher degree of professionalism and care. They are razor sharp and completely transparent about cost as much as possible.They are not cheap and there are no guarantees but I believe they are absolutely worth it.You get what you pay for.

Christan SetterboChristan Setterbo

14:04 29 Jun 23
Aaron has helped guide us through one of the most trying and difficult times in my family’s life. Throughout this entire journey Aaron has remained realistic, professional, and has truly cared about our families needs. Aaron was able to help us settle our case in mediation while giving us peace of mind. The professionalism and organization of The McNamara Law Firm was superb! Paralegal J. Gama always held her self in a professional, courteous and educated manner. We are truly grateful for their help and guidance. We will definitely choose Aaron again should we need to seek legal counsel in the future.

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