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| Credit Information |
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| Credit Repair & Rebuilding |
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| Divorce and credit | ||
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| When a marriage falls apart, former partners must divide their financial lives-often at a time when communication is most difficult. You and your partner must reach an agreement about the investments and debts you took on as a couple. You must prepare to stand on your own as a credit customer. | ||
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| A divorce decree doesn't affect your agreements with creditors. You could be liable for martial debts even if a court-approved decree orders your former spouse to pay them. It depends whether you had an individual or joint credit. | ||
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| Individual credit is based on your assets, income, and credit history. You alone are responsible for paying an individual account, even if you're married. In "community property" states, however, the assets and debts of one spouse belong to both spouses. Your lawyer will be able to tell you is this applies to you. | ||
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| Joint credit is based on the assets, income, and credit history of both people who apply. Your combined resources may help you get a higher line of credit. But is also means that you both are responsible for paying off the debt. If one person fails to pay a joint account, the creditor may require payment from the other even if you are separated or divorced. | ||
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Consumer Debt Group, Inc. does not provide any legal representation. Consumer Debt Group, Inc. deals with licensed attorneys and our affiliated law firm has attorneys throughout the nation who are credit card debt settlement specialists.
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