Credit question

[Loveless21]

We racked up some debt during oir marriage (all old stuff). Can i make him pay half before we divorce??

 

Also if he incurrs his OWN debt once we were separated can that ever be used against me? Will that go on my credit report?

[mammasita]

We racked up some debt during oir marriage (all old stuff). Can i make him pay half before we divorce??

 

Also if he incurrs his OWN debt once we were separated can that ever be used against me? Will that go on my credit report?

 

If I remember correctly from my divorce, you should be able to have that written into your separation agreement that he has to pay half of all debt incurred during your marriage.

 

Also, and verify with your lawyer, you should be able to put in your sep agreement that any debt incurred individually once you're legally separated will not be considered joint debt.

[Loveless21]

Thanks. If he mever pays his portion (all the debt was HIS btw) then will it remain on MY credit report?

[carhill]

In Cali, debt acquired by either spouse during the marriage prior to the filing of a legal separation or divorce lawsuit is considered to be marital debt.

 

Being clear here...if your jurisdiction is like California, *legal* separation is a lawsuit, filed with the court and settled or adjudicated and essentially works the same as a divorce lawsuit, addressing nearly all issues of that in a divorce, but leaves the parties unable to re-marry anyone else legally. Here in Cali, if you're 'separated', like living apart, but are still married, generally the court considers you married legally. Of course, a lawyer can present arguments to support apportioning of marital debt acquired after separating (other than legally).

 

In our case, we both had separate (not joint) debts and we agreed in the MSA to retain those debts and we both removed each other as authorized signers on any credit cards. Many people cancel (lock) credit card accounts when splitting up. That works too, but any remaining balance is still a marital debt.

 

If any of the accounts were ever cross-linked to your name, like if you were an authorized signer, yep, from my experience his debt will show up on your credit report. Easy way to tell is order a tri-merge and rummage through it. I'd recommend a tri-merge if your credit issues are complex. That's how I found out how our credit experiences were connected in my M and D.

 

BTW, IMO, do as much verifiable research as you can and then bring pointed questions and information to your lawyer. Mine charged 35.00 per 1/10 hour (his increments) and the legal bill can pile up. Good luck!