Ciancio Ciancio Brown, P.C.
Book Now

Denver (303) 395-4773 Broomfield (303) 872-8919

Breckenridge (970) 285-3077 Toll-Free (800) 746-3560

We want to assure you during these challenging times that Ciancio Ciancio Brown, P.C. is open for business and providing our full range of legal services. Our attorneys, paralegals, and staff are available to meet with you for new and existing legal matters by conference call and video conferencing. Please call our main line at 303-451-0300 and we will get you connected. We are here to assist you with all of your ongoing legal needs.

Leaders in Litigation

Debt and divorce: Don't lose sight of your liabilities

Divorce prompts you to answer many questions while addressing a variety of concerns. While property division is likely to take precedence over debt, you can't lose sight of your liabilities.

Early on, it's critical to make a list of all your debts, both separate and joint. Doing so allows you to formulate a plan for splitting the debt, which will help you better understand the impact it will have on your life in the future.

You may find that you have more liabilities than you originally believed, with these among the most common types:

  • Credit cards
  • Mortgage
  • Car loans
  • Personal loans
  • Home equity loan or home equity line of credit

Some of these debts are easier to deal with than others. For example, if you have joint credit cards, you may be able to pay off the balances with money that you have in a bank account. This allows you to move through divorce without the joint debt hanging over your head.

On the other hand, a mortgage is often more difficult to deal with, as it's attached to an asset that both individuals may covet. If you both want to remain in the family home post-divorce, you could find yourself with no choice but to find common ground. And that's easier said than done.

Additionally, it's critical to make note of what is separate and what is joint debt. This often comes into play if your spouse brought a lot of debt into the marriage, such as credit card debt or student loans.

As long as you didn't commingle the debt, such as using a personal loan to consolidate it, you can argue that you shouldn't be responsible for paying any of it in the future.

As important as it is to fully understand your assets and how they're divided, the same holds true of your liabilities. If you neglect to maintain a firm grasp of your situation, you could end up responsible for debts that you shouldn't have to pay.

An understanding of your situation and knowledge of your legal rights will help you formulate a property and debt division plan that puts you in the best position possible in the future.

Email us your case details

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Broomfield Office
390 Interlocken Crescent
Suite 350
Broomfield, CO 80021

Toll Free: 800-746-3560
Phone: 303-872-8919
Fax: 303-464-8000
Broomfield Law Office Map

Denver Office
1660 Lincoln Street
Suite 2000
Denver, CO 80264

Toll Free: 800-746-3560
Phone: 303-395-4773
Denver Law Office Map

Breckenridge Office
106 North French Street
Suite 230
Breckenridge, CO 80424

Toll Free: 800-746-3560
Phone: 970-285-3077
Breckenridge Law Office Map

Privacy Policy | Business Development Solutions by FindLaw, part of Thomson Reuters.