Financial divorce and debt obligations

jencanshimmy,

Welcome to forums :D

You need to do a few things as per as your credit is concerned. Confirm if your spouse had taken some loans or have some joint account with your name involved without your knowledge. Both of you are responsible for the joint accounts.

So your first step should be pulling your credit report, because shared accounts appear in both of your report. Once you have identified your debts, you can freeze the accounts. This will resist debts to be piled up over and over in future.

Then do some planning on what you should do with your debts. Consider following options:

• Pay back the debts and get rid of the obligations.
  
• Take up the responsibility and claim more compensation from your spouse.
  
• Let your spouse be responsible for the debts against higher compensation.
  
• Be uniformly responsible for the debts.