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phxwilson
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Registered: ‎03-07-2007
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Re: RECENTLY DIVORCED, GREAT CREDIT RATING IN JEOPARDY DUE TO EX'S FRAUD

The OPs question concerns charges that the ex made AFTER the divorce decree was final.  My point is that the divorce decree does not cover such an action.  The agreement that covers the transaction is the agreement between the OP and the CCC.
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O6
Posts: 3,626
Registered: ‎10-13-2009
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Re: RECENTLY DIVORCED, GREAT CREDIT RATING IN JEOPARDY DUE TO EX'S FRAUD


phxwilson wrote:
The OPs question concerns charges that the ex made AFTER the divorce decree was final.  My point is that the divorce decree does not cover such an action.  The agreement that covers the transaction is the agreement between the OP and the CCC.

 

Actually, from what OP has stated, it seems she is talking about a credit card merchant account and not a credit card account.  Didn't she state that a customer used their credit card to purchase something in her and her husband's store and later performed a chargeback?  That means she had a merchants account to accept credit card payments.

 

In any event, the divorce decree can under no circumstances alter the agreement she had -- either individually or jointly with her (ex)husband -- with her bank as it relates to transactions both before or after the divorce.  In order to limit her liability for future debt with that particular creditor, she must remove herself from the account. 

 

It is possible that under the terms of her divorce decree her ex-husband may be civilly liable to her for the debt, but that's between him and her and doesn't involve their joint creditors.

IAALBNYL
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haulingthescoreup
Posts: 28,098
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Re: RECENTLY DIVORCED, GREAT CREDIT RATING IN JEOPARDY DUE TO EX'S FRAUD


O6 wrote:

...In any event, the divorce decree can under no circumstances alter the agreement she had -- either individually or jointly with her (ex)husband -- with her bank as it relates to transactions both before or after the divorce.  In order to limit her liability for future debt with that particular creditor, she must remove herself from the account. 

 

It is possible that under the terms of her divorce decree her ex-husband may be civilly liable to her for the debt, but that's between him and her and doesn't involve their joint creditors.



Thank you for clarifying this!

We can say all day long that the divorce decree stated that one party isn't responsible for the other party's debts on a jointly-owned account, but in the real world, those debts appear on your credit reports, and the original creditors and (later on) the collection agencies will most certainly come after the first party. They don't care a whit about the divorce decree; they're only interested in getting their money.

Yes, maybe in a perfect world, they don't have the right to collect, but they can certainly make one's life a living hell and at least temporarily destroy one's credit while thrashing all this out.

When you end a relationship --marriage, common-law marriage, long-term POSSLQ's, roommates, whatever -- you MUST close out all joint credit. People that you once loved and thought you knew can do some pretty nasty things that will have repercussions down the years.
* 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
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recoverychick
Posts: 113
Registered: ‎10-21-2007
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Re: RECENTLY DIVORCED, GREAT CREDIT RATING IN JEOPARDY DUE TO EX'S FRAUD

I'm sorry to hear of your disability and troubling ex spouse. 

 

It sounds as though you are in business with your ex husband.  If the business was started while you were married, have you considered changing the type or terms of the business entity to protect yourself.  Also, as a past business owner,  the divorce terms have no relationship to your merchant services accounts.  If you feel you must continue to be in business with your ex, you may want to seek legal advice on how to best protect your assets.

 

Unfortunately, if you want to protect your business credit (and personal if they are commingled) you'll have to keep being the responsible one and paying the business debts.  It seems that he won't.  Hauling is right.  Unfortunately, divorce brings out the worst in people.  During a divorce, just when you think there are no other awful things your spouse can do, they find some more and do them all.

 

Good luck and God Bless.  You have some major decision to make. 

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sgtm7
Posts: 56
Registered: ‎05-23-2008
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Re: RECENTLY DIVORCED, GREAT CREDIT RATING IN JEOPARDY DUE TO EX'S FRAUD

Yep.  The divorce decree doesn't keep the creditors from going after either or both parties for an account that was opened while they were still married.  You can sue the ex-spouse, but you have no recourse directly with the creditors. 
DTG
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DTG
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Registered: ‎10-27-2009
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Re: RECENTLY DIVORCED, GREAT CREDIT RATING IN JEOPARDY DUE TO EX'S FRAUD

I am in a worse pickle. It is almost 3 years since I have been divorced. My ex husband was responsible for the credit card debt. One card still had my name on it. There is a balance of close to $30,000. He was suppose to get my name off by December 2008 but his credit was so bad that he couldn't because the credit card needs to feel the remaining person is credit worthy. Well, he died suddently on Columbus Day. In spite of this I am upset by his death. But, yikes, the financial issues of the marriage are still there. I figure I will have to pay something and negotiate with the Bank of America. Yes, I have great credit and don't want this to affect my credit score, but I also don't want to have to pay $30,000.

 

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IOBA
Posts: 2,697
Registered: ‎08-13-2009
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Re: RECENTLY DIVORCED, GREAT CREDIT RATING IN JEOPARDY DUE TO EX'S FRAUD

Having the court order might help with the bank.  

 

 

Short of making all the payments, on time, and paying it off in full, it could affect your credit.  UNLESS they accept that divorce decree that specifically says that your x was responsible for the debt.

 

I wish you well. 

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O6
Posts: 3,626
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Re: RECENTLY DIVORCED, GREAT CREDIT RATING IN JEOPARDY DUE TO EX'S FRAUD

[ Edited ]

DTG wrote:

I am in a worse pickle. It is almost 3 years since I have been divorced. My ex husband was responsible for the credit card debt. One card still had my name on it. There is a balance of close to $30,000. He was suppose to get my name off by December 2008 but his credit was so bad that he couldn't because the credit card needs to feel the remaining person is credit worthy. Well, he died suddently on Columbus Day. In spite of this I am upset by his death. But, yikes, the financial issues of the marriage are still there. I figure I will have to pay something and negotiate with the Bank of America. Yes, I have great credit and don't want this to affect my credit score, but I also don't want to have to pay $30,000.

 


 

I'm very sorry about both of your loses.  What a tough break.

 

While there isn't likely anything that can be done to bring back your ex-husband, you might consider seeking legal advice about how to deal with Bank of America.  In a perfect world BoA would be kind, considerate and understanding in dealing with the situation -- and hopefully they will -- but, it pays to know what all of your options are and by having someone who has a firm grasp of the laws of your state look at the issue objectively you might find your situation (with BoA) isn't as bad as it seems.

 

Good luck!

Message Edited by O6 on 10-27-2009 05:21 PM
IAALBNYL
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haulingthescoreup
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Re: RECENTLY DIVORCED, GREAT CREDIT RATING IN JEOPARDY DUE TO EX'S FRAUD

Once again, for anyone reading: DON'T GO JOINT ON CREDIT CARDS, A CAR LOAN, OR ANYTHING OTHER THAN A MORTGAGE! If you are joint, as opposed to an authorized user, you are equally liable for all of the debt, no matter when it was incurred.

If you are in a divorce, or if you think you might be headed towards divorce, close the joint accounts. I don't care what it does to your util, or your length of history, or whatever. Separate your credit from your partner's.

It can get ugly out there, folks. :smileysad:
* 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

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