# Joint Credit Card Debt...how do I get removed?



## Sa55ycla55y (Dec 10, 2013)

My husband and I have all of our finances jointly. We have come to an agreement between us that he is assuming all the debt, which includes anything in my name soley, I am taking the mortgage and car payment. However its on my credit report. I have no control if he pays those things on time or how long it takes him to pay them off. It could affect my ability to obtain new credit for a long time after a divorce. My question is how do I get removed from the financial obligation and pass that debt to him legally? He does not qualify for balance transfers to open new credit cards in his name solely b/c of how much debt there is. The debt/income ratio is too high. Any advice?


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## chillymorn (Aug 11, 2010)

you can't!

its best to pay off all debt first so you don't get stuck with his dabt after the divorce. if he fails in any way shape or form they will be comming after you.

sell everything and pay off the debt and then split whats left. that is the safest way to insure that your leaving debt free.

now if he had good credit and wasn't extended to the point that he could get more credit then he could refinance or take out loans to redistrubite the debt and then you might....might be able to do something.


I'm not a lawyer but I did sleep at a holiday inn select ........last year.


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## Allen_A (Nov 18, 2013)

Have him create a new credit account and you do a balance transfer from the joint account into his solely owned credit account.

You can't remove yourself from an existing account.

But you can move the debt to a different account.

So do that.

oops, sorry, I never noticed that his credit was crap.

Ya, if he can't get a loan anywhere for a balance transfer then you may be SOL.

Creditors are gonna hold you accountable if you are the one reliable enough to pay them.

Why would they ask a degenerate to take on their credit account?


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## Allen_A (Nov 18, 2013)

What you could do legally is have him sign a loan arrangement with you. You take on the loan and payments to the creditor, but he agrees on paper to make payments to you on a monthly basis. You become a bank to him.

If he does not make the payments, you at least have some legal recourse.

You pay your debts and he pays you. If he behaves himself, you pay nothing.

Creditors may not be willing to loan him money, but you can give him a loan on paper that he pays back monthly to you. And you use that payment to pay your loan.

If he doesn't pay you, you can sue him in small claims or wherever.


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## honcho (Oct 5, 2013)

It will work the same way with the house and car payment that you are paying. Till his name is off the deed to the property and the bank agrees to remove his name from the loan he will be liable if you do not pay. 

If you are actually getting divorced once the divorce is final many credit card companies will allow one person to be removed from the card liability and what they usually will do is cancel the card, take the remaining balance and create a new loan or liability just in one persons name. If it is obvious to them the person who takes on the liability cant pay the debt they wont do it for fear the person will just declare bankruptcy to eliminate the debt. 

For the house it works kind of the same way, they will usually rewrite a loan to put into one persons name. Like you are refinancing the note. It gets a little tricky for as long as he is on the deed they wont do it. But if he signs off on the deed but you dont get refinanced he will still be liable. 

If you are getting divorced dont not fall under the illusion that just because a divorce decree says you or he is responsible for a debt that the credit card companies or banks wont chase you for the money if payments arent getting made. Banks and c.c. companies just want money and they will go after anyone with the ability to pay and they dont care what a divorce decree says. 

If you arent getting divorced you are pretty much on the hook no matter what.


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## Sa55ycla55y (Dec 10, 2013)

Ugh thank you everyone. While this does not make me happy, sometimes the truth hurts. He has hurt me so deeply as it is, why stop at financial hurt too? I feel like I have been screwed without a happy ending. Thanks everyone.


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## Bushman1972 (Dec 30, 2013)

I just removed my ex from my main account as I was the one who opened it and added her. The bank had no issue with that. Hope this helps.


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## Bushman1972 (Dec 30, 2013)

chillymorn said:


> you can't!
> 
> its best to pay off all debt first so you don't get stuck with his dabt after the divorce. if he fails in any way shape or form they will be comming after you.
> 
> ...


Debt is bad. Mine is around $3k. I hate it. Kill debt for your peace of mind. Grow your own veggies with aquaponics and do what you have to do to make sure kids turn off lights and TV's on standby.


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## Bushman1972 (Dec 30, 2013)

I should add that I rent so that is also a form of debt IMHO. No chance of getting out of that for me in the short term.


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## over20 (Nov 15, 2013)

Just a thought, no disrespect intended but could you claim a bankruptcy....ch 11 or 13?

It might give both of you a clean start altogether


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