Many people work hard to get their credit score up. Some of those people can live their entire life knowing that they have good credit. For others, however, a situation out of their control ruins their credit score in a way that negates all their hard work. One of those situations is divorce. Many people don't realize that going through a divorce can wreck havoc on their credit score. While it isn't true in all cases, it is possible for your ex to ruin your credit long after the divorce. Our readers in Florida might like to learn how this might happen.
How can my ex ruin my credit if he or she is responsible for the bill?
A divorce decree doesn't alter the agreement you have with the credit card company or any other company for that matter. Even if your ex is told by the court to pay a bill, you are still responsible for ensuring the bill gets paid. You remain liable for those debts.
What can I do to protect myself?
Besides keeping a close eye on the debts your ex is supposed to pay, you can take some other steps to keep your credit score up. You can ask the bank or credit card company to give you personal credit. You can remove your ex's name as an authorized user on the accounts you must pay. You can have joint accounts closed and let other creditors know that you aren't liable for debts incurred on the account after the divorce.
While the court can't do much to ensure that your credit is protected, you can work to ensure you get a divorce settlement that puts you in the best position possible after the divorce. Knowing the applicable laws might help you determine how to handle the divorce proceedings.
Source: Experian, "Divorce and Credit" Maxine Sweet, Nov. 19, 2014