Just Got Divorced? Here's What Happens to Your Credit Card Debt
About 40% to 50% of all marriages in America end in divorce, and the rate was reportedly at a 40-year low recently. Getting at divorce rates is more complicated than it seems, as factors such as age at marriage and education influence the likelihood of divorce. Still, it's clear that a sizable chunk of marriages end earlier than they were expected to.
Divorce changes a lot of things for a former spouses, socially and financially. A key consideration is handling any credit card debt and determining who has what responsibility when it comes to paying off the accounts. Will it be handled jointly or not? Here's a look at what happens to credit card debt when you get divorced.
Image source: Getty Images.
Source: Fool.com
