Entries tagged with “join-obligations/”

How to Prevent Divorce From Hurting Your Credit

Posted by Daniel Clement on January 22, 2008
Your credit rating could be hurt by divorce. As part of divorce, you distribute not only your assets, but your debts and obligations as well. An in-artfully drawn marital agreement may provide that one spouse will assume the liability for a joint debt. However, an agreement apportioning joint liability between you and your spouse is not binding on the creditor. The creditor can attempt to collect the debt from either or both parties. As pointed out in a Fox Business article, “The mistaken assumption that you're off the hook for financial obligations can result in a series of missed payments... More
Page: 1