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

[haulingthescoreup]

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@Anonymous wrote:

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@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.

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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.

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+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.

[Anonymous]

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.

[Anonymous]

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@Anonymous 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.

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

[Anonymous]

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@Anonymous 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.

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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.