{"id":31302,"date":"2022-11-03T12:40:16","date_gmt":"2022-11-03T12:40:16","guid":{"rendered":"https:\/\/zaratechs.com\/?p=31302"},"modified":"2022-11-03T12:40:16","modified_gmt":"2022-11-03T12:40:16","slug":"divorce-horror-collectible-impact-of-divorce-on-credit","status":"publish","type":"post","link":"https:\/\/zaratechs.com\/divorce-horror-collectible-impact-of-divorce-on-credit\/","title":{"rendered":"Divorce Horror Collectible – Impact of Divorce on Credit"},"content":{"rendered":"\n
As a financial counselor, I have seen some incredibly difficult situations that people face as they deal with divorce. Sometimes it cannot easily be helped. Sometimes it is a deliberate and malicious attempt to cause further hardship to the ex-spouse. One ex may say “Horror Collectible<\/a><\/strong>. I might as well ruin her credit too!”<\/p>\n\n\n\n One particularly situation that I encountered involved a divorce settlement that gave one spouse the car that they had been driving, even though it was in the ex’s name. This is fairly common.<\/p>\n\n\n\n Rather than honor the terms of the agreement, this individual decided to stop making payments and allowed the car to be repossessed. Additionally, another car was purchased prior to the repossession.<\/p>\n\n\n\n The only recourse that you have when something like this occurs is to make the payments yourself. Pursuing a legal response could work, but you will likely incur hits to your credit prior to reaching a resolution. Therefore, you must ensure that all payments are made on debts where your name is attached to the account.<\/p>\n\n\n\n Another situation can result when your ex-spouse is expected to make the credit card payments but fails to do so. If your name is on the accounts, then your credit will suffer. Furthermore, debt collectors will hound you by phone and mail to collect on the debt. They may even call your employer or family members.<\/p>\n\n\n\n