If
in a divorce and there is credit card debt, both will be responsible when they
are "joint account holders" for the credit card balances. It does not
matter what the court says or who they say is to pay off the debt, the credit
card company does not recognize the court rulings. They will pursue all holders
listed on the credit card account and debts that are not paid or paid late
affects all credit reports of the holders on the account. If you need debt
relief consider all options before making a choice.
When
there is a divorce, the best thing to do is quickly pay off all joint accounts
and then close them to prevent abuse and high charges from an angry spouse.
Don't let an angry soon to be divorced spouse cause bad credit and go over the
credit limits or charge high balances that may not even get paid soon.
Another
option to consider is to apply for a credit card only in your name so you will
be the only cardholder on the account before the divorce ends. If credit is
good, it can make getting a head start on establishing your own credit history
so after the divorce there you have some credit. When a divorce is in the
future, prepare early to protect your credit as much as possible.
