Reply
Moderator Emerita
Community Leader
Epic Contributor
Posts: 28,098
Registered: ‎04-01-2007
0

Re: Credit ruined by ex-husband - do I need an attorney?

 


O6 wrote:

JGeuy wrote:

It worked for me with my ex.  I had legal documetation that specified what I was responsible for and what he was responsible for. I also disputed acounts he opened after the divorce which he forged my name on. I got those removed as well. It took a long time, but I got them removed.


You were lucky.  Again, a creditor is virtually never bound by terms of a separation agreement or a divorce decree unless the creditor so chooses to be.

 

Accounts opened after the divorce are, obviously, different.


 

+1

 

It might be something to hope for, but it's definitely not something to count on.

 

Most lenders, especially those beyond the local level, are interested in getting their money back, and they'll go after whomever they can.

* 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
New Member
Posts: 7
Registered: ‎08-25-2009
0

Re: Credit ruined by ex-husband - do I need an attorney?

Thanks for all the commentary everyone!  Although the divorce decree is very explicit about responsibility, creditors do not have to abide by it.  They use the initial loan paperwork, which was signed by both parties.  Because he cannot refinance (due to poor credit), I cannot get my name off the loan(s).  So, he can essentially ruin my credit by not paying on anything we have both our names on.  Sure seems like something should/could be done about this, but it would probably take legislation.

Senior Contributor
Posts: 3,626
Registered: ‎10-13-2009
0

Re: Credit ruined by ex-husband - do I need an attorney?


DivorceBurned wrote:

Thanks for all the commentary everyone!  Although the divorce decree is very explicit about responsibility, creditors do not have to abide by it.  They use the initial loan paperwork, which was signed by both parties.  Because he cannot refinance (due to poor credit), I cannot get my name off the loan(s).  So, he can essentially ruin my credit by not paying on anything we have both our names on.  Sure seems like something should/could be done about this, but it would probably take legislation.


Actually it would take changing the US Constitution.  Chances of that happening?  None.

IAALBNYL
Senior Contributor
Posts: 3,626
Registered: ‎10-13-2009
0

Re: Credit ruined by ex-husband - do I need an attorney?


DivorceBurned wrote:

Thanks for all the commentary everyone!  Although the divorce decree is very explicit about responsibility, creditors do not have to abide by it.  They use the initial loan paperwork, which was signed by both parties.  Because he cannot refinance (due to poor credit), I cannot get my name off the loan(s).  So, he can essentially ruin my credit by not paying on anything we have both our names on.  Sure seems like something should/could be done about this, but it would probably take legislation.


There are remedies available to you such as actually suing your ex-husband and / or trying to have him held in contempt of court over violations of the divorce decree.  The bad news is that judges are extremely hesitant to use contempt over financial issues which do not involve child support ... and even then. 

 

Even worse is that in the vast majority of cases suing the former spouse is like throwing money down into a black hole.  The adage of not being able to get blood from a turnip is, unfortunately, true and even should the turnip have blood it is all to easy to shuffle assets and make even a rich person judgment proof. 

 

Unfortunately credit issues are common with divorces.  Someone needs to build a better mousetrap.

IAALBNYL
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.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

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.