![]() |
|
| *Home>>>Debt Financing |
How do I handle this credit situation? |
My divorce was final six months ago, and we split the debts 50/50. Unfortunately, ALL of the debt was in my name because of his poor credit before and during the marriage. The total debt is $60,000, but it's all on my credit report. All are being paid on now, but several are very past due because he wasn't paying at first. So now I have 120+ day late payment marks on my credit report. Now I have having horrible trouble getting financed for a car because of this. I have no vehicle because of a bad car accident. Yes, we split up the debts.. So he has specific cards he's responsible for listed in the divorce decree. He's responsible for Visa 1-5 and I am 6-10 (example only). First things first: DO NOT use any debt consolidation companies to help you clear the debt. In the long run this will only hurt you. sorry, You may want to check within your state but on the norm there is no such thing as he's responsible if it's in your name. Because it's in your name you have to work at clearing it up. If under the divorce decree it states he's responsible to pay on these particular debts you may want to go back to the courts or contact your lawyer and discuss with them that he's not paying on his debts. You will more than likely need to have proof that he's not paying these bills. This isn't going to be easy for you but just keep working at it. If at all possible try and work out something with the creditors or work with one of those companies that can help you work on your debts. Best of luck with this. It is your responsibility to collect it from him and pay the debt on time. if his name is not on the debt - you are solely responsible - if there is a divorce degree he owes you the money - call a consumer credit counseling company Were the debts specifically listed in the divorce paper work? If so, send a certified letter to the creditors you are not responsible for paying, ask them to transfer the loan from your name to it's rightful owner, and include the portion of the divorce decree which lists that creditor. Also send a letter to each of the bureaus. Keep a copy of the letter in case they don't respond to you within 30 days. You can also dispute online and one of the options for disputing the debit is due to divorce. Good luck! Disputes take about 30 days, so if you need a car before then you may want to just buy a really cheap car with cash or go to a buy here/pay here place. Get a car that will take you where you need to go. After your credit is repaired, you can treat yourself to a job well done, but getting a better car. |
| Tags |
| Easy Money Easy Investing Earn Money Direct Investment Debt Financing Capital Investment Business Investment Business financing |
| Related information |
I was like that for a long time, and I am only now starting to get out of it. It is hard, but call all of your debtors, and make a payment plan. I set it up as I would pay them each ten dollars a... Banks have all kinds of different loans... for personal use. Based on your statement it doesn't sound like you or your husband have very good credit.... I would, first off, check into that. I... Why pay off $3,000 in debt in order to go into $20,000 or more, in debt for a car? I make a fairly good living and both my car payments together are less than $500 per month. It sounds to me that... First things first - you can get an awesome rate on a loan because you are military. My company could possibly get you a loan at 5.95%. (If you wanna know more, send me a message. I am here to help... Unfortunately the only way to get his name off the mortgage is to refinance it in your own name. If his name in on the deed as well, you'll have to get him to abandon his claim to the propert... Congratulations to you & your wife; you have shown great committment, will, and discipline in doing what you have already achieved. Your technique is very commendable. Just keep it up,... The prime rate and your credit score is what determines your mortgage rate. I would not refinance. When you get a loan the majority of your interest is paid first. Very little comes off of the prin... i would say to call you debt consolidator compnay and ask them. ... |
Categories--Copyright/IP Policy--Contact Webmaster |