Sunday, May 9, 2010

Debt After Divorce

Debt & Divorce

A woman calls in on the Dave Ramsey radio show: My husband and I have been divorced for years. I recently got a collection letter stating that I owe money on our once joint Lowe's account. I never used this card but it was in both of our names. Am I still responsible for this debt? -YES

Closing all JOINT accounts is an essential as well as important part of ending the marriage. Regardless of how your debts are divided in you Divorce Decree you will still be liable for any and all joint loan and/or credit card accounts. Make sure you close these accounts and stay on top of the payments until the debt is fully paid off.

Remember if these debts go unpaid they can damage your credit scores and profile!


Warm regards,
Dina Harbour, Extraordinaire
CEO & Host of Women Obtaining Wealth
Women Obtaining Wealth Organization
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Posted via email from Women Obtaining Wealth's Blog

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