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Mega Contributor
RobertEG
Posts: 17,456
Registered: ‎03-19-2007
0

Re: Joint Credit Card account with ex wife

I would not advise to simply ignore the debt collector.  They can report to the CRA at any time of their choosing.  The OC may choose not to deal with you, and require that all negotiations/payments be done through the debt collector. They are a legal agent of the creditor.

 

The CRAs have no business in any determination of legal authority for the debt, and cant unilaterally remove your obligation or delete accurate reporting. 

The issue of future joint ownership should have been settled at the time of divorce, but apparently it was not.  The court had the power to order the parties to close the account, thus freezing the obligation to that at time of divorce.  If you were listed with an ECOA code of joint responsiblity at the time debt was incurred, you are not an authorized user, and remain responsible.  Getting debt responsibility removed now will only affect future debt, and wont affect reporting made when you did have legal responsibility.

 

The deal they offered might be good or bad depending upon your circumstances.  Certainly, it removes legal action, and requires both to report a $0 balance in their respective reportings.  Current OC status then becomes paid, and the collection is closed.  However, if you additionally require CR deletion as a pre-condition, they dont have to accept, and the debt continues to rise, along with the possibility of additional action on their part.  Has SOL expired?  It is a gamble.

Valued Member
bflem55
Posts: 32
Registered: ‎01-06-2012
0

Re: Joint Credit Card account with ex wife

SOL hasnt been reached and its a long time til its due.  I am for sure not going to pay it though and ignore them why would I do that??  That would just keep lowering my score right?  So why would that even be suggested?

Valued Contributor
p-
Posts: 2,612
Registered: ‎06-05-2008
0

Re: Joint Credit Card account with ex wife


bflem55 wrote:

SOL hasnt been reached and its a long time til its due.  I am for sure not going to pay it though and ignore them why would I do that??  That would just keep lowering my score right?  So why would that even be suggested?


Again, you need to follow the PFD process; that means Pay For Delete.  If it's past SOL they can't sue you, and the balance of power is in your hands.  Keep bugging them until tehy agree in writing to remove it from your credit report in exchange for payment.  That is the best possible outcome.

  8-12-14: FICO EXP: 797 - EQU: 734 - TRAN: 739 - AVG: 757 - +207 points from JUN 2008 - MY CREDIT JOURNAL


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