This happened to a good

Guest — Mon, 20 Aug 2007 08:08:20 -0400

This happened to a good friend of mine- she finally got the jerk to pay off the card... it took YEARS. She threatened with a lawsuit, and it finally got through. What a mess.

To Each Their Own Debt

Amanda Lockhart — Sun, 19 Aug 2007 20:13:14 -0400

I read an advice column the other day by a writer from Bankrate.com that outlined a sticky situation that could happen to anyone.

The guy caught in this scenario has been divorced for 13 years. Part of the settlement involved his ex-wife taking on $1,500 of credit card debt. And despite the fact that he claims to have also given her $27,000 in cash as part of the settlement, she never paid off the credit card. The balance is now at $6,500 and counting. The account has been closed, but the credit card company is coming after him for the money since his name was on the account.

The moral of the story here is that the stipulations of a divorce settlement don’t shield you from debt if the debt is in your name. The advisor from Bankrate.com who wrote the column suggested enlisting an attorney to deal with the credit card company if this happens to you.

But perhaps more importantly, there are some obvious steps you can take to prevent this from happening in the first place. Short-term debts like credit cards should be paid off from joint funds, before a divorce is finalized.

Just because you and your ex agree to something in your divorce settlement doesn’t guarantee it’s going to happen.

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firstwivesworld - To Each Their Own Debt - Comments

This happened to a good

To Each Their Own Debt