Things You'll Need:
- Request credit report
- Disolve Joint Accounts
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Step 1
If the divorce is final contact the creditors to alert them of the divorce. Credit card accounts must be dissolved to remove spouse's information. Bank accounts may have to be closed completely in order
to remove a spouse. -
Step 2
Follow up with a letter to request for the dissolution of joint accounts. Credit card companies have the power to separate balances if the amount that is owed can be agreed upon by both parties. If accounts can not be settled with both parties in agreement then balances may have to be paid in full and the accounts can then be closed.
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Step 3
Once the bill is paid you can take the other party to court to try and recover the money that was paid out for debts. Also before a offer is made to any creditors you can negotiate the interest rate which will make the payment less. Credit counselors have agreements with most creditors to lower interest rates. As the cardholder you have the power to do this yourself without involving a third party. Restoring the credit report takes work and follow through. Pulling a copy of the report will allow you to assess where to start first. If anything is on the report that you are unsure of dispute the information and allow the creditors to produce signed documents if they can not they must remove the derogatory information.
Comments
Rosepedal said
on 6/30/2009 Good article. Continue to write..Rate 5