The division of debt in a dissolution proceeding is a fairly simple process. The basic presumption in Oregon is that all debt acquired from the date of marriage to the date of separation will be split equally between the divorcing parties. For example, if the parties acquired $15,000 in credit card debt, and $5,000 in medical bill debt, the parties will each be responsible for $10,000 worth of debt in the divorce.
Debt is split equally, in most circumstances, no matter which party acquired it. That is, it is inconsequential if only one party has their name on the credit card, or if the medical bills accrued solely for one person. Oregon divorce courts will treat you like a married unit, and distribute the debt in equal shares in all but the most extreme circumstances.
Navigation through the divorce process can be confusing and stressful. If you are going through a divorce in the Portland Metropolitan area, call Bobzien McGuire LLC at (503) 245-0894. Our experienced professionals can help guide you through the process in an efficient and effective manner.