Dealing With Credit Accounts During a Divorce
When a couple divorces there are many issues that have to be dealt with. Often times lawyers are busy with other issues and don't put enough emphasis on the importance of joint credit. Joint-borrower-loans that were acquired during marriage keep both parties liable for the repayment of that loan, even after the divorce. Parties may have an agreement within the divorce decree specifying which party is going to repay the loan, however the creditor can hold liable both parties for the debt. Not repaying such a loan can destroy the credit score of both parties. If the ex-husband agreed to pay of the loan but chooses not to do so, the spouse has to pay the loan to keep her credit from deteriorating. ...
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