In Illinois, what happens to credit card debt during divorce depends on whether it is characterized as marital or non-marital. In many cases, both spouses can be responsible for debt, even when the account is in only one spouse’s name. If you have questions about the specifics of asset and debt division during the divorce process in Illinois, a Wheaton divorce attorney can help you understand how the law applies and protect your financial interests if hidden debt is involved.
Is Credit Card Debt Considered Marital Debt in Illinois?
Illinois statute 750 ILCS 5/ addresses the division of property and debts during divorce, and according to the law, marital debt includes most debts incurred by either spouse during the marriage, regardless of which name is on the account. For example, a credit card used to pay for everyday family expenses would likely be considered marital debt. However, credit cards acquired before the marriage or after a judgment of legal separation and tied solely to one spouse’s non-marital activities will typically be characterized as non-marital debt.