Like most behaviors, gambling is usually done in moderation. Most Hoosiers who enjoy Illinois casinos only do so from time to time and do not allow this pastime to interfere with their marital finances. Unfortunately, for some people gambling is a compulsive behavior that can drain a couple’s finances and put them at risk of losing their retirement and home, and even bankruptcy.
Spouses with a gambling addiction will often try to hide their problem and resort to taking out loans without their spouse’s permission. Credit card debt, home equity loans, and more can be used to secure funds for gambling. If you are divorcing a spouse who has a gambling problem and he or she has racked up substantial debt in the process, you are probably wondering what will happen during the marital debt division process.
Equitable Division
Many states are community property states, meaning all assets and debt are divided 50/50 in a divorce. Illinois, however, is an equitable division state. This means that assets and debt are allocated fairly, rather than equally. If one spouse has a problem with gambling and has incurred significant debt, judges will try to ensure that the spouse who spent the money ends up with the responsibility of repaying the debt.
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