Re: Anyone out there with knowledge of debt and divorce in Wisconsin (Community Property State)?
08-28-2012 09:09 AM
I just found one more possible angle in the event that my arguement regarding the debt not being "in the best interest of the marriage or family" does not work. The "meat and potatoes" of the entire Marital Propery Act are essentially stated in s. 766.55 (2) (b):
"An obligation incurred by a spouse in the interest of the marriage or the family may be satisfied only from the marital property and all other property of the incurring spouse"
My interpretation of the above statement is that once all marital property has been exhausted, if the obligation still has not been met, only the property of the incurring spouse is available to satisfy the rest of the obligation. At the time this debt was incurred by my ex-wife, we had no assets--only debts. Therefore, there was no marital property even available to satisfy this obligation. Wouldn't this mean that only my ex-wife's property is available to satisfy this obligation?