Credit cards and divorce

Brian Vertz (Pollock Begg) writes and blogs a great deal on family law valuation issues--and he's pointed out some of the key issues having to do with credit card debt when couples break apart in his most recent post.  He points out that while courts can hold a spouse in contempt for failing to pay marital debts, that won't help as the other spouse's credit rating gets ruined...and it won't stop bill collectors from calling, either.  Vertz' thoughts are a good reminder to lawyers and their financial experts that debts need to be factored in carefully when doing valuations of marital "property."