Credit Card Center Advertiser Disclosure†
06-17-2007 04:09 AM
06-17-2007 05:18 AM
06-17-2007 05:38 AM
Pay the joint accounts off and close them. Divorce in and of itself does not ruin your credit. A nasty vindictive partner can wreck havoc though so if possible try to remain civil as it only benefits both partners. Good luck.
06-17-2007 05:12 PM
06-17-2007 07:23 PM
06-17-2007 08:34 PM
06-17-2007 09:14 PM
Do the same laws apply for common-law relationships?
dog wrote:one of the worst side effects of divorce and the ruination of credit is that creditors typically ARE NOT bound by the orders of a local family court as to who is responsible for a debt post-divorce. although your divorce decree may grant your spouse possession of the home and responsibility for the mortgage, if your spouse defaults you are still responsible. also, the mortgage will still show up as your tl on your reports, often preventing you from obtaining a new mortgage. same with credit accounts, medical bills, auto loans, etc. i used to practice family law, and ALWAYS made sure that joint debts were refinanced by the responsible party before entering into a settlement agreement and presenting the agreement to the court. if the other party couldnt refinance, then i insisted on a sale of the property.by the way, i no longer practice in this area of the law, and the foregoing is general legal information and is not to be construed as legal advice. and hell no, an attorney/client relationship has not been formed between me and anyone on this forum via this posting!
06-17-2007 10:49 PM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.