Unconsolidating

31-May-2020 23:29

There are many different factors that must be considered, so let’s start with the basics.Who is responsible for the student loans after the divorce?Scroll past the jump to learn how to consolidate in Excel so that your information appears in a master worksheet as a reference whenever you need to generate reports.Eugenio Cerutti and Christian Schmieder () No 12/288, IMF Working Papers from International Monetary Fund Abstract: The recent crisis has spurred the use of stress tests as a (crisis) management and early warning tool.The program also offers efficient ways to combine and summarize data from multiple files, also known as worksheets.Common methods to consolidate in Excel include consolidating by position, by category, by formula or by using Excel’s Pivot Table feature.If you and your spouse have an equal amount of student loan debt, the divorce arrangement is a little easier to work out.You each simply take responsibility for your own student loans and make the payments.

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How this debt is divided, again, goes back to what state you live in as well as which spouse benefited from borrowing the student loan funds.

In a community property state, both spouses have equal ownership of all marital property and everything is split 50-50.

In an equitable distribution state, the division of marital property is more complicated since each spouse has a legal claim to a fair and equitable portion of any assets – which may or may not mean a 50-50 split.

So if you borrowed ,000 to attend law school before marrying your spouse, congratulations, that debt is forever yours.

The division of student loan debt becomes a bit trickier if the loans were obtained during the marriage.

How this debt is divided, again, goes back to what state you live in as well as which spouse benefited from borrowing the student loan funds.In a community property state, both spouses have equal ownership of all marital property and everything is split 50-50.In an equitable distribution state, the division of marital property is more complicated since each spouse has a legal claim to a fair and equitable portion of any assets – which may or may not mean a 50-50 split.So if you borrowed ,000 to attend law school before marrying your spouse, congratulations, that debt is forever yours.The division of student loan debt becomes a bit trickier if the loans were obtained during the marriage.Needless to say, going through a divorce can be a long and grueling process of untangling your commingled finances, especially when you have debt.