Debt Responsibility In A Divorce

Dividing Debt In Illinois

Under Illinois law, debt may be characterized as either marital or nonmarital. Individuals who brought a certain debt into the marriage will likely be assigned full responsibility for that debt during divorce. Likewise, any debts accumulated by either spouse during the marriage will likely be considered marital debt and must be divided fairly, though not necessarily evenly, between the divorcing spouses.

However, assigning debt responsibility can be far more complex than first appears. For instance, if one individual took out a student loan to obtain a graduate degree, he or she is likely in a position to earn much more than before. In such a case, the courts may rule that dividing this debt is inequitable, even though it was accumulated during the marriage, because only one spouse will benefit from the increased earning capacity.