Disputing a KD received because of a divorce

Anonymous · ‎08-31-2008

My ex-wife had one installment loan assigned to her in the divorce decree. She didn't pay it for many months and settled for less than owed. My credit report shows "Legally paid in full for less than the full balance" in the status and "Election of remedy - reported by subscriber" in the notes. I had no knowledge of this until it hit my credit report. The loan was opened by both of us.

If I had known she wasn't paying it, I would have to keep my credit in good standing. My current score is at 681, but I can only assume it would be higher if this wasn't on my report.

Do I have a chance at getting this off my report? Is there any specific wording I should use when sending in the dispute?

Anonymous · ‎09-01-2008

Why are you disputing? Because your ex didn't tell you the status of the loan? Nope, won't work. The CRA and creditors don't care.

You opened the loan. It is yours and reporting accurately from what you said.

All you can do is send GW letters to the OC explaining the situation and ask them to remove it.

haulingthescoreup · ‎09-01-2008

Yes, unfortunately, the provisions in the divorce decree aren't binding on creditors.

For anyone going through the Big D, be sure to keep up with what's happening with ALL your joint accounts, not just the ones that were assigned to you in the divorce.

OP, good luck with the GW process. Unfortunately, this happens a lot.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007

hoping2rebuild · ‎09-01-2008

haulingthescoreup wrote:

For anyone going through the Big D, be sure to keep up with what's happening with ALL your joint accounts, not just the ones that were assigned to you in the divorce.

VERY VERY True also watch your report for any CC etc that your EX could have opened in

your name, they are VERY hard to get rid of because all the personal information matches etc...

Been there done that!!!

Starting Score: 377EQ/350EX/400TU As of 11/2011
Current Score: 620EQ/614EX/612TU As of 01/2013
Goal Score: 700+ across the boards

Anonymous · ‎09-03-2008

There is a dispute choice on EX I believe that says, "Assigned to spouse by divorce decree." Or something very similar IIRC.

I understand it's not binding on OC/CA but it appears at least one CRA gives the option of taking it into account. I remember jumping through hoops in 24 hours to close/password protect all of my joint accounts when I went through my D. Should be the first thing everyone does. CLOSE everything possible. REFI whatever is left.