More details to this question:
we are divorcing and have a HELOC for debt consolidation of vehicle loans for both of us, student loans for son, and miscellaneous credit card debts. can my husband "cherry pick" the HELOC and only pay what he considers his personal contribution to the whole of the debt? the credit card debts go back several years, and many balance transfers over time, so tracing each transaction would be difficult if not impossible.
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All debts whether incurred before or during the marriage are presumptively 50/50 under the Wisconsin divorce code; if there is a showing of marital waste, that would be an exception to the presumption that the debt or obligation served a family purpose; gambling would be an example, ifvexcessivecand a pattern of practice during the marriage.
Answered on Mar 23rd, 2017 at 5:14 AM
David B. Karp Karp & Iancu, S.C. 933 North Mayfair Road #300 Milwaukee, WI 53226 414 453 0800 dbk@karplawfirm.com www.karplawfirm.com