Credit Tips: Credit After Divorce

Posted On: April 1, 2005

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Post subject: name off credit card after divorce

Sharon
Date: 1/20/2001 0:03 am CDT

I was recently divorced and my ex-husband and I had many joint credit cards. We split up the use of the accounts but they are still in both of our names. What is the best way to get my name off of his accounts and his off of mine?

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Eugene
Date: 1/21/2001 11:30 pm CDT

What you do depends on how much you two trust each other, and some other private issues that only you can evaluate. In the worst (or best?) scenario you will have to have a clean start (cancel ALL the cards and re-apply). It may be done simpler if each issuer agrees to just give you a card with a new number when you tell them you just divorced.

If you are less paranoid (which is not necessarily better), each of you will have to remove the secondary user (authorised user, co-holder or whatever) from each of the cards. It is easy to remove an authorised user, might be impossible in the co-holder’s case, then you will have to cancel the card.

I would work with each issuer, their advice and policies will be different.

Follow up the conversations with letters, request written confirmations and keep all the paperwork. It’s very important to have proof that you are not liable for each other’s credit as of this date.

Eugene.

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Brandon
Date: 1/22/2001 10:35 am CDT

You first need to make sure if the accounts are JOINT accounts or if you are an authorized user and vice versa with your ex’s accounts. I do know a lot of people get the two confused. If it is a joint account you are both equally responsible for any debt that accrues on the account and that is even after a divorce, so you would want to call and close those accounts down. You will still be responsible for the debt if any on the account so you may want to watch and make sure it is paid. As the other post states you will have to apply for a new account if you want one. If you are an authorized user you can just request that your name be removed and that a confirmation letter be sent out. That way at that point when you remove your name you will no longer be held liable for purchases on that account. Although depending on some states you may still have that reporting to your credit for a few years after your divorce.

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