Credit Card Debt After Divorce
Dealing with joint credit accounts can add to the headaches and heartbreak
of divorce. But there are a number of steps you can take right now to manage credit card debt after divorce. Keep in mind that a divorce decree alone has no
impact whatsoever on your joint accounts - including credit cards,
car loans, home mortgages and lines of credit. Why? Joint accounts
mean joint liability. When you obtained a joint credit
account, you and your
spouse agreed you would both be responsible for paying the bills. In other words,
you're both responsible for the debt you incurred during the marriage.
And if one of you defaults, creditors will pursue the other.