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10 things you should know about divorce and debt responsibility

10 things you may not know about how debt is handled during divorce

There is nothing easy about divorce. In addition to the emotions involved, there are difficult decisions inherent in the separation of a life in two.

Whether you want to face it or not, divorce is a common part of life. Ninety percent of people get married at age 50, according to the American Psychological Association. [one] But 40 to 50 percent of married couples divorce.

During their time together, they probably accumulate assets and probably create debts. Knowing what happens to finances through divorce can help people avoid a catastrophe later.

Here are 10 things you should know about how debts are handled during a divorce …

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