If you get a divorce are you responsible for your spouses debts such as car payments and credit cards? How do you get it not to reflect on your credit if they do not make their payments??
2007-01-08 10:33:44 · 6 answers · asked by mistiful2001 2 in Business & Finance ➔ Credit
Each state is very different in the laws. You need to have things spelled out clearly and to have yours and hers separated. Make sure you inform the credit bureaus of this and send certified. I have seen this too many times where a divorce ruins the other persons credit. Really need to have your lawyer get it spelled out in court.
2007-01-08 11:37:10 · answer #1 · answered by logan 5 · 3⤊ 1⤋
The divorce decree should state who is responsible to pay each debt. This is not binding on your creditors. They are still entitled to collect from anyone whose name was on the debt. You can try to have you name removed from the accounts your ex-spouse is supposed to pay. If they are already missing payments, the only way to protect your credit is to pay the debts and sue your ex-spouse for what they were supposed to pay.
2007-01-08 21:12:03 · answer #2 · answered by STEVEN F 7 · 0⤊ 1⤋
OK, anything after the date the divorce is final (or before you were married, in most cases)is not your problem. debts before that , are a different story. you can divide up the debts in the divorce decree and notify the creditors who is going to take on the debt. the creditors, howerver, are not under any obligation to follow the decree and can come after you for the debt, or if they think that you are in a better position to pay, they may not take you off the debt. with that said, anything that your ex-spouse is supposed to pay (by decree) and does not, you can take him to court and sue.
2007-01-08 22:44:09 · answer #3 · answered by Jen 5 · 0⤊ 1⤋
If both names are on the debts, then yes, both are responsible. There is no way for it to not reflect on your credit. Your score helped to get the loan or credit card if your name is associated with it. Sorry...
2007-01-08 19:46:57 · answer #4 · answered by BMW BFD 5 · 0⤊ 1⤋
if it is not clearly spelled out it stays a joint debt. check out my latest question. i know from experience. i have been divorced and paying my ex husbands bills and it seems like they never stop coming. meanwhile he is on disability and absolved of any responsibility.....
2007-01-08 19:44:24 · answer #5 · answered by starla 3 · 0⤊ 1⤋
you need to speak to an attorney as each state has different laws.
Kourtnie
2007-01-08 19:13:49 · answer #6 · answered by Kourtnie D 4 · 0⤊ 1⤋