i'm newly divorced and the decree set forth that i recieve no alimony or monies from rental properities. in exchange he's responsible for the debt that was incurred during the marriage. how do i go about cleaning up my credit now?
2007-03-03 08:46:27 · 8 answers · asked by ladi 1 in Family & Relationships ➔ Marriage & Divorce
Spifiman is right on this one. Until your ex refinances any joint accounts you can be held responsible for those debts. My sis is finally out from under the foreclosure of her and her ex's house that he was supposed to take care of according the the divorce decree. The jerk never even tried to refinance, just stopped paying on the loan and it's been on her credit report for a llllooonnnngggg time.
If you can get all that stuff cleared up, you need to build your own credit. A store card, gas card or credit cart in your name that you use responsibly can help you build up a history of paying on time. The longer you can do that on your cards and any loans you have the better off you are. Believe me, having a high credit score can save you thousands of dollars in the long run.
2007-03-03 13:38:53 · answer #1 · answered by Critter 6 · 0⤊ 0⤋
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RE How to clean up credit after divorce according to divorce decree?
i'm newly divorced and the decree set forth that i recieve no alimony or monies from rental properities. in exchange he's responsible for the debt that was incurred during the marriage. how do i go about cleaning up my credit now?
2014-09-18 16:32:39 · answer #2 · answered by Anonymous · 0⤊ 0⤋
The main thing that most people do not understand about this is that no matter what your divorce decree Say's as long as your name is on any credit card account or installment loan as a joint signer or co-signer you are still responsible for that debt.
If you and your ex have any joint debt? Have him refinance it in his name only. This is the only way that you are going to be safe. If he starts making the payments late or not at all, your credit will be just as adversely effected as his.
2007-03-03 16:54:23 · answer #3 · answered by ? 7 · 1⤊ 0⤋
The only way to improve your credit is to print a credit report, monitor it and slowly pay off the debts. They can't be removed for 7-10 years but it looks a lot better if they are paid, even late.
2007-03-03 16:49:57 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Get a copy of this paper to have ready to send to each creditor who bothers you. You are not responsible if the Court has ruled this way.
To clear up your credit can take time, but be patient and keep trying. Keep records and organize them in the best way you can so that you can refer to them when you need to.
Keep track of the bills he is supposed to pay to see if he is and let the Court know if he is not. This is vital for you to pursue. If he doesn't do this, he is breaking the Court's order and can be taken back to court to have the ruling reviewed and possibly changed.
Peace
2007-03-03 17:52:38 · answer #5 · answered by islaam4naas 2 · 0⤊ 0⤋
first did you or your lawyer actually agree to those terms? anyway get in contact with every creditor who is hounding you and let them know what happened. they probably won't care but do it anyway. get with credit conciling corp and list all your liabilities they will contact your liabilities and work out a payment plan, it may take a little while but you will be scot free in no time.
2007-03-03 16:55:21 · answer #6 · answered by milton b 4 · 0⤊ 0⤋
your credits are yours, his credits are for him, so work on your credits and don't blame him
2007-03-03 16:50:26 · answer #7 · answered by cmadranthony 2 · 0⤊ 1⤋