Divorce & Credit
by: Developed from materials provided by the Bureau of Consumer Protection
Joint Debts
A joint debt is one that is in both your name and your ex-spouse's name.
Credit card balances, mortgages, and car loans are examples of things that might be joint debts.
If there is a divorce . . . .
When you get divorced, the court will divide up your debts.
If your ex-spouse gets any debt that has your name on it, you can try calling the creditor. Ask that your name be taken off the debt.
Be aware that:
Creditors do not have to remove your name;
Many creditors will not agree to remove your name.
Things to look out for
It is very important to remember that, if your ex-spouse falls behind on payments, the creditor can come after you for payment.
The creditor can sue both you and your ex-spouse.
The creditor can also place negative points on your and your ex-spouse's credit reports.
Who must pay for joint debts?
While a divorce decree divides debts up for payment, the divorce papers do not control the creditor.
Because of this, the creditor can try to collect from both of your
If you get sued for a debt which your ex-spouse got in the divorce, you may have to turn around and sue your ex-spouse.
In the meantime, protect yourself and your credit rating by paying the debt if you can.
Your Credit Rating
If your ex-spouse fails to pay on the debt, it can harm your credit rating. This can make it hard for you to get loans in the future.
If you suspect that an ex-spouse has failed to make a payment, call the creditor and find out.
You may have to make payments yourself to preserve your credit rating. Your ex-spouse will then have to pay you.
Talk to a lawyer about your options.
Last Reviewed On: 08/13/04
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