Common use of Debts and Liabilities Clause in Contracts

Debts and Liabilities. The following is a listing of ALL the debts and liabilities that we presently owe (both individually and as a couple) and who we agree shall be responsible for the payment of each debt: Payment for Payment to (Creditor) Balance Due Paid by Petitioner/ Joint Petitioner A Paid by Respondent/ Joint Petitioner B Shared Equally Mortgage/Rent $ Mortgage/Rent $ Car 1 $ Car 2 $ Car 3 $ Loans-Student $ Loans-Personal $ Loans-Other $ Credit Card 1 $ Credit Card 2 $ Credit Card 3 $ Credit Card 4 $ Other $ Other $ Other $ If more space is necessary, attach additional sheets. In F, for each debt owed individually and jointly, write the name, current balance, and check who will be responsible for payment.  Each party assigned a debt shall be fully responsible for that obligation and shall not make any demands upon the other party concerning that debt.  Any debt not listed shall be the responsibility of the party who incurred the debt.  Creditors are NOT bound by this agreement and both parties remain liable to creditors for all marital debts.  Any party who suffers a loss because of a failure of the other party to pay an assigned debt may enforce that obligation by a motion or an order to show cause for contempt of court.

Debts and Liabilities. The following is a listing of ALL the debts and liabilities that we presently owe (both individually and as a couple) and who we agree shall be responsible for the payment of each debt: In F, for each debt owed individually and jointly, write the name, current balance, and check who will be responsible for payment. If more space is necessary, attach additional sheets. Payment for Payment to (Creditor) Balance Due Paid by Petitioner/ byPetitioner/ Joint Petitioner A Paid by Respondent/ Joint Petitioner B Shared Equally Mortgage/Rent $ Mortgage/Rent $ Car 1 $ Car 2 $ Car 3 $ Loans-Student $ Loans-Personal $ Loans-Other $ Credit Card 1 $ Credit Card 2 $ Credit Card 3 $ Credit Card 4 $ Other $ Other $ Other $ If more space is necessary, attach additional sheets. In F, for each debt owed individually and jointly, write the name, current balance, and check who will be responsible for payment.  Each party assigned a debt shall be fully responsible for that obligation and shall not make any demands upon the other party concerning that debt.  Any debt not listed shall be the responsibility of the party who incurred the debt.  Creditors are NOT bound by this agreement and both parties remain liable to creditors for all marital debts.  Any party who suffers a loss because of a failure of the other party to pay an assigned debt may enforce that obligation by a motion or an order to show cause for contempt of court. If 1, check a or b. In G, check 1 or 2.

Debts and Liabilities. The following is a listing of ALL the debts and liabilities that we presently owe (both individually and as a couple) and who we agree shall be responsible for the payment of each debt: Payment for Payment to (Creditor) Balance Due Paid by Petitioner/ Joint Petitioner A Paid by Respondent/ Joint Petitioner B Shared Equally Mortgage/Rent $ Mortgage/Rent $ Car 1 $ Car 2 $ Car 3 $ Loans-Student $ Loans-Personal $ Loans-Other $ Credit Card 1 $ Credit Card 2 $ Credit Card 3 $ Credit Card 4 $ Other $ Other $ Other $ If more space is necessary, attach additional sheets. In F, for each debt owed individually and jointly, write the name, current balance, and check who will be responsible for payment.  • Each party assigned a debt shall be fully responsible for that obligation and shall not make any demands upon the other party concerning that debt.  • Any debt not listed shall be the responsibility of the party who incurred the debt.  • Creditors are NOT bound by this agreement and both parties remain liable to creditors for all marital debts.  • Any party who suffers a loss because of a failure of the other party to pay an assigned debt may enforce that obligation by a motion or an order to show cause for contempt of court.