Tag Archives: unsecured debt

Dividing stuff up

In short, a domestic support obligation that arises from the distribution of property will be treated as a general unsecured debt in a Chapter 13. This creates a quandary for settling matters, especially in this market where houses (the major asset that is divided up in a divorce) take so long to sell. If there is a major asset, like a house, that has equity to be divided and one party wants to hold onto it or control its sale, one strategy is to realize that equity through debt. Continue reading

Posted in Distribution of property, Divorce lawyer tactics, Family Law | Tagged , , , , , , | 1 Comment