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Divorce: What About Credit Cards in Divorce?

May 19, 2023 By Lynette Kim

There are many issues that need to be resolved in a divorce such as child Custody and Support and division of the family’s assets. Division of the family debts is sometimes overlooked as an issue that needs to be resolved. Credit cards are one such debt that can be a source of contention during a divorce.

Credit cards can be used for a variety of reasons, including household expenses, personal expenses, and even joint expenses. During a divorce, it is important to determine which debts are joint debts and which debts are individual debts. Joint debts are debts that both spouses are responsible for, while individual debts are the responsibility of only one spouse.

Credit Cards and Divorce

In some cases, credit card debt can be a major source of contention during a divorce. If one partner in the marriage has accumulated a large amount of credit card debt, the other one may be reluctant to take on any responsibility for that debt. In other cases, both spouses may owe a lot on credit card debts, and they may need to resolve payment options before the divorce can be finalized.

One important thing to keep in mind is that creditors are not bound by divorce agreements. If one spouse agrees to take responsibility for a joint credit card debt in the divorce agreement, but then fails to pay the debt, the creditor can still go after the other spouse for payment.

If you are going through a divorce and have credit card debt, it is important to work with an experienced attorney and divorce financial professional who can help you navigate the complexities of dividing debts. The financial professional will help you determine which debts are joint debts and which debts are individually owned and can help you negotiate a settlement that is fair to both parties.

In some cases, it may be necessary to close joint credit card accounts to prevent one spouse from continuing to accumulate debt. It is also important to monitor your credit report after a divorce to make sure that your ex-spouse is not using your name or social security number to open new credit accounts.

Divorce is never easy, but with the right legal and financial guidance, you can navigate the process and come out the other side with a fair and equitable settlement. 

Contact Kim Mediation and Law Center to Learn More

For more information about a peaceful divorce and how you can deal with credit card and other debts, call Kim Mediation and Law Center at 213-351-1000 to schedule a free case evaluation. Our office is located at 3701 Wilshire Blvd., Suite 508, Los Angeles, CA 90010

Filed Under: Blog, Collaborative Divorce Tagged With: Collaborative Divorce, Divorce, Financial Issues

About Lynette Kim

Lynette Kim is a Los Angeles based Collaborative Attorney and Mediator. A child of divorce herself, Lynette understands the emotional and psychological impact divorce can have on children and is encouraged by her experience with helping families preserve relationships through non-adversarial means of ending a marriage. Her office is located at 3701 Wilshire Blvd., Ste. 508, Los Angeles, CA 90010
213-351-1000.
Lynette’s Profile | Lynette’s Website

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I think this is probably true of a lot of marriages that end in divorce: neither one of us felt “heard.” The [collaborative] process was an eye-opener… and an “ear-opener” I guess you’d say.  We each got to say our piece.  And, I can’t speak for my ex, but I felt she “got” what I was talking about in a deep way.  To me, that was what made my divorce really a completion.  When we were done, we were DONE.  And now we’re okay parents together.  I’m not mad at her, she’s not mad at me.  I’m really grateful to [my coach], for showing me the way.

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