If you divorced a spendaholic, then you may have been able to pass all
credit card debt onto him or her at the end of the divorce. But what happens
if the spouse who takes responsibility for all debt continues to rack
up credit card debt, and the decision reflects poorly on your because
you were once associated with the account. A woman named Marcia recently
experienced this complicated disaster. Her ex-husband had full responsibility
of all debt from their marriage, but continued to pile on more expenses.
As a result, she started getting phone calls from angry creditors who
were demanding repayment. Eventually, she was able to silence the creditors
by faxing in a divorce decree and showing that the debt was not her fault
and was not her responsibility. Still, her credit score was slashed as
a result of her ex’s spending habits. If you find yourself in this
situation, then you will want to make things right as soon as possible.
For one, you should try and close all joint accounts before a divorce decree is even issued. This will help you to avoid complications like this one where one spouse’s credit card debt will affect another spouse’s report further into the future. If the joint accounts could not be closed, then you may have the right to sue your ex-spouse for failing to keep up his or her part of the bargain in paying off the debt. If you are the owner of an account that he has been charging on, then there is a possibility that you may be held accountable for the debts on the account.
You may want to talk to your family lawyer about seeking compensation for
the debts that you are being pressed to pay through a lawsuit. If you
are merely an authorized user on an account, then you do not need to pay
any of the debt on the account. Still, you should never keep any shared
accounts active after a divorce If you have any shared accounts at present,
cancel them immediately in order to break ties with your ex financially
and potentially avoid damaging your credit further.