My husband has a divorce decree stating that his ex-wife is responsible for the payment of a loan. Apparently she hasn't been paying it and now the collection agency is contacting us. They're saying that he's still legally responsible for the debt even though the decree says differently. Is this true? Do we have any option but to pay it? He's been trying to dig out of the credit nightmare that she left him in and has actually raised his score up to 574. We just don't want to take a huge step back with this but we also don't want to have to pay something that we don't really owe.
2007-05-15 09:25:07 · 7 answers · asked by Anonymous in Business & Finance ➔ Credit
He is legally responsible because he signed off on the loan in the first place. The divorce decree gives you a chance to dispute it on your credit; and I'd go back to the court that ordered her to pay the loan and have her held in contempt untill she pays it off.
2007-05-15 09:28:43 · answer #1 · answered by wizjp 7 · 0⤊ 0⤋
Most people that get divorced make this mistake. Lenders or collection companies do not care what a divorce decree says they just want their money. And since the ex did not refinance the loan in her name only like should have been insisted on by your husband's lawyer as a condition of the divorce, your husband's name is still on the loan and he is still responsible for paying it.
You can contact the collection company and send them a copy of the divorce decree, but do not be surprised if they still come after him.
2007-05-15 09:35:38 · answer #2 · answered by ? 7 · 0⤊ 0⤋
If you live in a community property state your husband may be responsible if the debt was incurred while they were married.
That said, if a judge decreed that the ex-wife is responsible your husband has a strong argument.
It is not in the collection agency's interest to leave your husband alone. They will have to be forced into dealing only with the ex-wife.
2007-05-15 09:38:28 · answer #3 · answered by bv1999 2 · 0⤊ 0⤋
Actually he is legally responsible for the debt. The only way to remove himself from that debt is to pay it off and have either 1. the account closed or 2. refinance the debt in his ex-wifes name only. Once these actions are taken, they are reported at the credit bureaus to reflect the same.
Good luck!
2007-05-15 09:31:21 · answer #4 · answered by Karen J 1 · 0⤊ 0⤋
Yes...your husband will have to pay the loan...the same thing happend to me, only I was the female that got stuck paying.....if you incrued the loan while you were married your both responsible equally...it doesn't matter what the divorce decree states...pay it and be done...move on...good luck
2007-05-15 09:29:51 · answer #5 · answered by jonni_hayes 6 · 0⤊ 0⤋
no you do not.my daughter was gonna get stuck paying for a dell computer and cell phone her ex got.she contacted the companies,and the credit bureau and prved it was stated she wasnt responsible,he was.and it was removed off her record and put on his only.man was he mad but he also had to pay it
2007-05-15 11:54:13 · answer #6 · answered by mamanana9 4 · 0⤊ 0⤋
Yes you do..Its an open account with your husbands name on it. Your legally bound to pay it. All you can do is pay it and then take her to small claims court.
2007-05-15 09:36:01 · answer #7 · answered by Anonymous · 0⤊ 0⤋