Credit card debt in divorce in hawaii

teach those going through divorce, and others helping them, how to get ready for Formula considers (1) each spouse's assets and debts at the date of marriage . mutual funds, insurance, retirement, credit card, car, mortgage, other debt).
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In the instant case, the family court apparently declined to include the escrow commissions in the marital estate because they were too speculative since Baker would receive them post-divorce and the units were in a project that had not yet been constructed. Further, although Baker testified that his other escrows had been cancelled because the units were in condominium projects with financial problems, in the record on appeal there is no evidence that his existing escrows were for units in projects with financial or other problems or any other evidence that those escrows might not close.

Nothing in the record suggests that Baker had to perform any additional duties to receive his escrow commissions or do anything after the marriage was dissolved to earn those commissions. For these reasons, and because presumably Baker's expectancy was based on a contractual agreement, the escrow commissions in this case are unlike the husband's expectancy under his mother's will in Schiller.


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Also, because it is undisputed that the escrow commissions constitute "income" earned during the marriage, they are unlike the disability compensation discussed in Jones. We are unpersuaded that the commissions were too speculative to be included in the marital estate. For the same reasons we hold that the family court abused its discretion by omitting the escrow commissions from the marital estate, we hold that the court abused its discretion by excluding from the marital estate any commissions receivable by Baker on the non-binding reservation agreements. Cases in other jurisdictions hold that commissions earned during a marriage but receivable after the marriage's dissolution should be included in the marital estate.

See, e. Ray, S. Freeman, S. Hartland, P. Niroo, Md. Given the foregoing, the family court abused its discretion by not characterizing Baker's commissions as marital property, subject to division, and FOF is clearly erroneous.

COL 6 is wrong insofar as it relates to Baker's commissions. Bielski contends the family court either failed to equalize or erroneously equalized the parties' assets and debts. Related to this argument is Bielski's contention that COL 6 is wrong. Bielski argues that the family court apparently failed to rely on a property division chart when it divided the parties' assets and debts because the court did not attach such a chart to its Decree.

She infers from the chart's absence that the family court did not have a reasonable means of determining the asset and debt division.

The Decree was filed on July 31, , and the property division chart indicates it was prepared by Baker's attorney, Donna Davis Green Green , on October 31, , and received by the family court on November 1, Therefore, it would appear that the family court did not rely on that particular version of the chart when it issued its Decree. She cites to Wintermeyer v. Wintermeyer, Haw. Bielski argues that even if the family court relied on a property division chart, the court improperly equalized the parties' assets and debts.

Bielski maintains the family court erroneously failed to "literally award each party one-half of each and every asset and debt.

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Helbush, Haw. As we have consistently observed, "the family court has broad discretion to divide and distribute the estate of the parties in a just and equitable manner. As such, the family court assesses and weighs all valid and relevant considerations to exercise its equitable discretion in distributing marital property. Booth, 90 Haw.

The portion of Helbush to which Bielski cites is inapplicable because here, the marriage itself and the existence of jointly owned property were not the only facts proved. Bielski argues that in equalizing the parties' assets and debts, the family court erroneously included in the calculation an amount owed in income taxes after the court had ruled that Baker was to be solely responsible for the debt. The Decree provides: "The parties filed separate tax returns for calendar year , even though they lived together for the first five months.

FOF provides that Baker "assumed. Also assigned to Baker is partnership debt, including some credit card debt, which he voluntarily assumed. In the chart, after the parties' respective partnership profits and losses are added together, an equalization payment is applied to the totals. The equalization payment represents the value transferred from Bielski's share of the total partnership profits and losses to Baker's share to ensure the parties receive a similar amount of total value from the marital estate.

The tax debt is not Baker's separate property because it was acquired during the marriage. Given the family court's "broad discretion to divide and distribute the estate of the parties in a just and equitable manner," Booth, 90 Hawai'i at , P. Bielski maintains the family court's failure to mention these debts in the Decree reveals that the court did not equalize all of the marital partnership property.

FOF provides that Baker "assumed all other marital debt," besides the amount due and owing on the Discover Card. The Decree does not specifically mention the credit card debts. Bielski cites to no evidence in the record that the family court failed to consider the credit card debt when issuing its Decree, and, in fact, the listing of the debt in the property division chart suggests the court did consider it. Bielski argues as follows that the family court erroneously failed to include her attorney's fees in the equalization:.

On June 28, , Richard J. Diehl Diehl , Bielski's attorney who had withdrawn from representing her in the divorce, filed a motion for a charging lien. The family court filed an order granting the motion. At the September 13, hearing on the motion, Diehl requested that the lien be on real property the parties owned in Hawai'i Hawai'i property , which, pursuant to the Decree, was to be sold and the proceeds divided between the parties.

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Given the complete absence of any evidence that the family court considered the lien when it equalized the parties' assets and debts, we infer that the court erroneously omitted the lien from its equalization calculation. Bielski contends the family court erred in awarding Baker pre-marital contribution credit for the value of the Burnet Property, which Baker purchased three years prior to the date of marriage DOM and sold during the marriage.

She maintains that three years prior to the DOM was too remote in time from when the family court divided the property to form an accurate basis for the court's valuation. Related to this argument is Bielski's contention that FOFs 5 and A are clearly erroneous and COLs 10 and 15 are wrong. At trial, Baker testified that he wanted the family court to award him the value of the Burnet Property's equity prior to the marriage as his Premarital Separate Property. Baker stated that Exhibit 47 was a tax roll for the Burnet Property.

He testified that he used the proceeds from the sale of the Burnet Property in to purchase the Queen's Quay property in Canada. Antolik v. Harvey, 7 Haw. In Helbush, Hawai'i at , P.

How are marital assets and debts divided in a divorce?

Gardner, 8 Haw. To the extent we can understand her argument, Bielski maintains the family court erroneously accepted Baker's valuation of the Burnet Property at the time he purchased it three years prior to the DOM, which was too remote in time from when the court divided the property to form the basis for an accurate valuation.


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Bielski provides no authority for this argument, and we find none. The family court did not abuse its discretion by crediting Baker with his capital contribution toward the Burnet Property or accepting Baker's valuation of the property's equity prior to the DOM. FOFs 5 and A are not clearly erroneous, and COLs 10 and 15 are not wrong. At trial, on direct examination, Baker's counsel asked Baker to refer to Exhibit Bielski objected to the introduction of the evidence because it was "just like something you can print off the Internet.

The family court stated, "Well, you haven't moved it into evidence yet, [Baker's] just testifying" and "So go ahead and testify about it. Your credit scores belong to you and are based on your history, not your spouse's. However, the actions you take during marriage with your spouse can affect your credit scores , like taking out new joint loans, such as a mortgage.

If you have joint accounts, any late payments or delinquencies will impact your scores. So if your spouse is required to pay down the debt on a joint card and makes payments late or skips them altogether, your credit will be affected. That's why you should try to get yourself removed from these accounts so that their negative actions won't affect you after the divorce. What's on Your Credit Report? Stay up-to-date with your latest credit information for free and learn what lenders might see when reviewing your credit. Our Editorial Policies: The information contained in Ask Experian is for educational purposes only and is not legal advice.

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Credit scores are used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any offer. Housing debt can be a particularly difficult issue to settle, especially if you and your soon-to-be-former spouse still owe many mortgage payments. One option might be to refinance your joint housing so that only one party is responsible for mortgage debt payments.

Another option might be to sell the home and split any money resulting from the sale between you and your spouse. A third option might be to decide who will live in the house and be responsible for mortgage payments. Mediation can help settle this — and the spouse who takes over the house and the housing payments might find that renting out rooms can help to generate additional income.

You and your spouse should each get a free credit report prior to the divorce. One or both parties could have credit errors on the reports, and correcting these errors is key to an amicable financial split.

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A clean and accurate credit report can save each party from hassle and headache later on. Many credit counseling services provide support to individuals who are returning to the single life and need help to get their finances in order. Gather those financial documents and arrange to meet with a professional as quickly as possible. Effectively managing those balances may be easier than the debtor thought possible. Consider pairing free credit counseling with a debt management program. Advantage CCS certified credit counselors can assist individuals with debt management strategies.

You can schedule a face-to-face counseling session, a telephone session, or take the online credit counseling session from the comfort of your own home. After the counseling session, you will be able to examine your debt-to-income ratio and begin to adjust your lifestyle to account for your new income level and any debts owed, post-divorce. It is possible — and sometimes simpler than you think — to adjust to a single income during a divorce.