When faced with divorce, it’s natural to turn your attention to the assets you share with your spouse, as these will be a point of contention. For this reason, you create a property division checklist to help you understand your situation and the approach you need to take.

While all that is going on, you should also create a debt division checklist. It can be frustrating and scary to see how hu hu hùmuch debt you have, but it’s better to know than to run into a surprise during your divorce.

These are some of the many types of debts to include on your checklist:

  • Credit card balances
  • Personal loans
  • Mortgage
  • Home equity loan or line of credit
  • Car loans
  • Payday loans
  • Tax debt

While these are among the most common types of debts, others may come into play during your divorce. Regardless of the type or balance, don’t forget to include it.

Also, it’s important to make note of the types of debts that are separate and the types that are joint. For example, if your spouse brought a ton of student loan debt into the marriage, and it’s only in their name, you may be able to successfully argue that you shouldn’t be on the hook for any of it.

Without a debt division checklist, you’ll struggle to get organized. And when that happens, you’re more likely to make mistakes that cost you time and money, while adding stress to the divorce process.

Furthermore, when you have a checklist guiding you, it’s easier to protect your legal rights as to ensure the best possible start post-divorce.