# Debt and loans while separated?



## Freak On a Leash (Feb 19, 2010)

My husband and I have been separated for 2 years now, living in completely separate residences, separate bank accounts, insurance policies and credit cards. In fact, until this past spring I didn't even HAVE a credit card in my name. I've been trying to rebuild my credit so I applied and got one. My credit is good, I pay all my bills on time and have no debts. 

My husband on the other hand has had himself a huge party since we separated. He inherited money when his father died, including his house. He bought a boat, which he told me he paid cash for. He got himself a mess of credit cards and lived the high life. 

Now he tells me it's all gone and that he's been paying all his bills with his credit cards! He tells me he's thinking of taking out a loan to pay his bills. Or that maybe he won't pay at all, which means he'll go into bad debt. He told me that some of his credit cards "don't work anymore", which means he hasn't been paying on them so he's being cut off. I can only imagine what this is doing to his credit. I'm only hoping it doesn't affect ME. 

Technically we are still married. I'm in the process now of looking into filing for a divorce. This situation, along with the fact that he tells me he can't help me support our children is the main reason. I do not want to be held responsible for his credit card debts, his loans or any of his defaults on his loans and bills. He's racked all this up AFTER we separated and none of it is in my name. 

If we divorce will I be held responsible for all this? I have good credit and don't want it to be ruined by his irresponsible behavior. He got all these loans and cards without me even knowing about it and he wasn't living with me at all. 

So what's the deal with this? I found a lawyer in my town that offers free consultations so I'm going to call tomorrow and try to get an appointment. 

My H is such a train wreck. Does this crap EVER end? This is why I am going to divorce him. :banghead:


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## Freak On a Leash (Feb 19, 2010)

BTW, I have no idea how much money my husband inherited. Inheritance isn't community property in NJ. He wouldn't tell me. Now he tells me he only got 50K from his father and that the house he sold for only $140k. And now it's ALL gone and all he has is $1800 to his name and a handful of credit cards.


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## Pluto2 (Aug 17, 2011)

So sorry. Do you have any type of property agreement concerning money, debts? Do the two of you agree on the separation date?


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## BeachGuy (Jul 6, 2011)

I'm assuming the new debt he took on after the separation was in his name only? In which case you're not liable. And his bad credit shouldn't affect yours at all.

I think you're ok but the lawyer can tell you better.


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## Freak On a Leash (Feb 19, 2010)

BeachGuy said:


> I'm assuming the new debt he took on after the separation was in his name only? In which case you're not liable. And his bad credit shouldn't affect yours at all.


That's what I figured. Since we separated on Nov 30, 2010 (the day social services said he couldn't be alone with the kids and I told him he had to leave) we've had separate bank accounts.

I didn't even HAVE a loan or credit card when we separated. He got them all afterwards and they are in his name only. 

My credit is clean and I want to keep it that way. I am seeing a lawyer this week. 

We have no real property. We both rent apartments that are each in our own name. Our insurance policies are separate. We each own cars that are paid for and the titles are in each of our names (not joint). We haven't had a joint bank account since we separated. We have no investments or anything together. 

Not much there as far as assets and the only debts are his now. 

The only thing we have done is filed tax returns together but he hasn't had an income in 2 years so it's pretty much about me.


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