Dr. Judith Gerhart, CFP
Certified Divorce Financial Analyst 
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Joint Credit Card Debt After Divorce
June 22, 2009
A marriage ends once the divorce decree is finalized; however complications involving joint credit card debt can live on long after the divorce is over. Many times one spouse will be assigned all or a portion of the marital debt as stipulated in the divorce decree. However, credit card companies could care less what you and your former spouse agreed to in court. They see the credit as a legal obligation of both parties and will therefore enforce the debt obligation for either owner on the account regardless of marital status. So if your ex fails to make monthly payments or files for bankruptcy your creditors can, and will, go after you for the full amount of the debt, plus interest and penalties.
The best way to avoid future debt issues is to make sure there is no joint debt remaining at the end of your marriage. So while you are still married you should establish credit in your individual name.
By: Donna Cheswick
Posted by Judith Gerhart on June 22, 2009 | Permalink | Post a comment
