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What happens to a credit card bill after a divorce when one spouse files bankruptcy after separation but before the divorce is final? |
Answer
Martial status has no bearing on credit card bills. The issue is whether it is a joint or an individual account.
Joint accounts are the liability of both signators, regardless of their marital status. If one party has their obligation discharged in bankruptcy, the other account holder becomes liable for 100% of any remaining balance.
Debts and assets are frequently distributed during the divorce process and spouses may have recourse within the jurisdiction of that court. However, your divorce degree will never supercede any other contract (like a card holder agreement) and will have no bearing on credit issues. Creditors hold the person(s) liable who initially opened the account. They don't care if you divorce later on, they still want to be paid.
First answer by The Credit Lady. Last edit by The Credit Lady. Question popularity: 24 [recommend question]
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