Legal Question in Credit and Debt Law in Pennsylvania

Are you a lawyer? Why are you preparing an agreeement? Don't either you or your husband have attorneys?

Generally, as long as there is a full disclosure of assets and debt and both parties sign and notarize the agreement its valid. The agreement should cover the division of marital debts as well as assets.

You need to realize that the agreement is only between the spouses and if one spouse is assigned the debt and does not pay, if the debt is in the other spouse's name, then the person whose name is on the debt must pay the collector or credit card company. Often, one spouse may sign an agreement and go bankrupt too so these are things to be aware of.

Here is a link to an article that I found: http://www.hoffsemm.com/documents/APRIL2009.pdf

which might provide you with some insight.

I would strongly encourage you to hire a family lawyer to prepare this agreement for you.

Regarding your debts, I can definitely help there for both you and your spouse, regardless of whether the debts have gone to collections or even judgment. Please contact me at [email protected] if interested.

I give free email consults and charge $50 for a 30 minute phone consult. I can resolve debts for a reasonable fee in a non-bankruptcy non-litigation context.