My son and his wife are currently separated ... eventually plans are to divorce. Currently they have credit card debt of $20,000. My son has been paying his wife $500/month for the past year. Interest rates on the cards are 28%. After a year of making payments for his half, the balance has not gone down ..... at all! With this in mind, my husband and I would like to pay off HIS portion of the debt ($10,000) and have own son simply make payments to us .... no interest. My question is .... IF we pay our son's half, can she come after him for 1/2 of the remaining $10,000 and simply say that it is "their" debt? If this can be done, do we need a lawyer? Any help is appreciated.
1 Answer from Attorneys
This is not a simply question. I strongly recommend that your son speak with an experienced domestic relations attorney to decide what to do.