How do I handle this credit situation?

Question

My divorce was final six months ago, and we split the debts 50/50. Unfortunately, ALL of the debt was in my name because of his poor credit before and during the marriage. The total debt is $60,000, but it's all on my credit report. All are being paid on now, but several are very past due because he wasn't paying at first. So now I have 120+ day late payment marks on my credit report. Now I have having horrible trouble getting financed for a car because of this. I have no vehicle because of a bad car accident.
I guess my question is, how do I protect my credit from getting ruined any more? I live in Texas if that helps at all, and so does my ex husband. Do I write the credit bureaus to state he is responsible? The creditors told me they don't care about my divorce decree, that I am responsible because the debts are in my name only.

Yes, we split up the debts.. So he has specific cards he's responsible for listed in the divorce decree. He's responsible for Visa 1-5 and I am 6-10 (example only).

Answer 1

First things first: DO NOT use any debt consolidation companies to help you clear the debt. In the long run this will only hurt you.
Second, as has been said, because the debt is in your name as far as the creditors are concerned you are the one liable for payment. You CAN consider speaking to a lawyer to get advice on taking your Ex to court over the debts he has left in your lap.
Next, make CERTAIN that you pay your BILLS first and your credit debts later. The creditors will keep calling you and keep calling you threatening your credit history and what-not. Don't give them ANY money if you haven't paid the rent first, ok? A roof over your head and food to eat is MUCH more imporant that a credit score.
Despite your situation, try NOT to go the bankruptcy route. That will REALLY hurt you in the long run. Even with your situation it's possible to turn it around in a year or so. Bankruptcy wrecks you for at least SEVEN years!!!
Finally, after everything else, talk to the creditors about lessening the debts. They may, they may not. But in any case, try not to get into some kind of "Payment agreement" with the creditors. That shows up on your credit report and does more damage than late payments.
Make whatever payments you can make on time. This is the ONLY way to get your score to go back up in the shortest amount of time.
Feel free to e-mail me if you want more specific help! Good luck! You CAN get through this -- I did!!

Answer 2

Were the debts specifically listed in the divorce paper work? If so, send a certified letter to the creditors you are not responsible for paying, ask them to transfer the loan from your name to it's rightful owner, and include the portion of the divorce decree which lists that creditor. Also send a letter to each of the bureaus. Keep a copy of the letter in case they don't respond to you within 30 days. You can also dispute online and one of the options for disputing the debit is due to divorce. Good luck! Disputes take about 30 days, so if you need a car before then you may want to just buy a really cheap car with cash or go to a buy here/pay here place. Get a car that will take you where you need to go. After your credit is repaired, you can treat yourself to a job well done, but getting a better car.

Answer 3

You may want to check within your state but on the norm there is no such thing as he's responsible if it's in your name. Because it's in your name you have to work at clearing it up. If under the divorce decree it states he's responsible to pay on these particular debts you may want to go back to the courts or contact your lawyer and discuss with them that he's not paying on his debts. You will more than likely need to have proof that he's not paying these bills. This isn't going to be easy for you but just keep working at it. If at all possible try and work out something with the creditors or work with one of those companies that can help you work on your debts. Best of luck with this.

Answer 4

if his name is not on the debt - you are solely responsible - if there is a divorce degree he owes you the money - call a consumer credit counseling company

Answer 5

It is your responsibility to collect it from him and pay the debt on time.

Here is some additional info. Hope this helps.

Answer 6

sorry,
my sis in law after she was divorced, her ex filed for bancruptcy and it was in her name too, due to the bills being in both of their names. They don't care if you got divorced, if it was in your name then you are responsible