Getting a divorce can be made more difficult if you have credit card debt. That’s why when giving divorce tips for men, many divorce lawyers advise you clear that debt before filing.
It is always advisable to pursue credit card debt consolidation and pay off the balance of the credit card debt before divorcing.
However, even though divorcing with debt can be a complicated affair, it does not mean it is impossible.
Follow these divorce tips for men for advice on how to divorce with credit card debt.
* In order to get a divorce with credit card debt, you first have to find out whether your credit card accounts are joint or individually held. You can find this either in your credit report or in the notation for the account. Joint accounts will be marked as “C” and individual accounts will be marked as “I”.
* Check to see if you are an authorized user for any of the accounts owned by your spouse by pulling your credit report. If you are, you will be relieved from paying the debt accrued on the account, but your account activity will still be displayed on the credit report. So in that case, you can approach the credit card company and request them to remove you from any of the accounts owned by your spouse. This will prevent the card activity from appearing on your credit report.
* Clear the debt as much as possible on the accounts that are legally owned by you and your spouse.
* If you and your spouse are not able to pay off the debt prior to divorce, then you can request your credit card company to equally divide the debt and place it onto two individual accounts, one in your name and the other in your wife’s name.
* You may also contact the credit card company and request to transfer the cards to your name only. This will prevent your spouse from incurring additional debt on the cards.
* If you fear that your spouse will incur more debt on the cards, and the company will not transfer the cards to your name, then you can cancel the accounts. Although canceling the accounts will affect your credit score, the effect will be less compared to the damage caused by several missed payments.
Divorce Tips For Men:
For additional divorce tips for men or financial tips on divorce, consult the divorce lawyers for men at Cordell & Cordell.