Legal Question in Family Law in California
Using a Joint Personal Loan to Pay Bills During Divorce Process
We have a joint ''personal line of credit'' that can be
used for any purpose (overdraft,etc.). It hasn't been
used since my husband abandoned us on 1/1/02. (I
filed on 1/15/02.) Payments have been made directly
from his paycheck twice a month since to present.
There is about $700.00 available credit on this loan to
date. In the meantime, he has left me with the majority
of the bills and the $$ is not enough to cover all the
bills. Can I legally use the $700.00 to pay our joint bills
(utilities that are now late, etc.)? What are the legal
ramifications of this action? I do realize the loan is
community property. How would this be handled when
this bill is divided between us later on? I see this as
reallocating the joint money/bill. the only difference is
that the loan has interest and the uitilities, etc. do not.
2 Answers from Attorneys
Re: Using a Joint Personal Loan to Pay Bills During Divorce Process
it is legal to use the loan to pay depts and it will be up to the judge to decide who pays the loan back
Re: Using a Joint Personal Loan to Pay Bills During Divorce Process
You can use the line of credit. Your debts and expenses after the separation will be divided up later by the court, or more likely by you and your husband (and your lawyers), so keep track of the money borrowed and what it's used for.
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