Joint Bank Accounts and Divorce

Here are some useful tips on joint bank accounts and divorce. If you've recently been through a divorce - or are contemplating one - you may want to look closely at issues involving joint bank accounts.

Joint Bank Account: Your income, financial assets, and credit history - and your spouse's - are considerations for a joint account. No matter who handles the household bills, you and your spouse are responsible for seeing that debts are paid. A creditor who reports the credit history of a joint account to credit bureaus must report it in both names.

An application combining the financial resources of two people may present a stronger case to a creditor who is granting a loan or credit card. But because two people applied together for the credit, each is responsible for the debt.

This is true even if a divorce decree assigns separate debt obligations to each spouse. Former spouses who run up bills and don't pay them can hurt their ex-partner's credit histories on jointly-held accounts.

Divorce : If you're considering divorce or separation, pay special attention to the status of your joint bank accounts. If you maintain joint accounts during this time, it's important to make regular payments so your credit record won't suffer. As long as there's an outstanding balance on a joint account, you and your spouse are responsible for it.

If you divorce, you may want to close joint accounts or accounts in which your former spouse was an authorised user. You can also ask the creditor to convert these accounts to individual accounts.

The creditor can require you to reapply for credit on an individual basis and then, based on your new application, extend or deny you credit.

You may freely reprint this article provided the author's biography remains intact:

John Mussi is the founder of Direct Online Loans who help UK homeowners find the best available loans via the http://www.directonlineloans.co.uk website.

---

9 Steps to Regaining Self-Esteem After Divorce

Divorce is difficult at the 'best' of times. Even when... Read More

Five Christmas Survival Tips For The Divorced & Single Parent

For the over 50% of marriages that end in divorce,... Read More

Guide To Reducing The Cost Of Divorce

Seven Tips to help you keep more of your money... Read More

How Women Should Protect Themselves Financially Regarding Divorce

Women who believe a divorce is a possibility or who... Read More

Divorce, The Hardest Thing You Have To Do

Knowing What To Do In DivorceKnowing what to do when... Read More

Divorce: Coping With The Family Law Process

The EmotionsDivorce is a scary, lonely and misunderstood process for... Read More

Top 5 To Dos Before Saying ?I Do?

1. DO allow yourself enough time to make one of... Read More

Does Living In A Loveless Marriage Necessarily Mean That You Should Get A Divorce?

Being in a loveless marriage is a frustrating predicament, but... Read More

Child Support: 5 Key Things Every Parent Should Know

There is no magic solution to getting issues surrounding child... Read More

Spare Your Kids To 7 Most Distressful Divorce Parenting Situations

What 7 most distressful situations to kids that divorced parents... Read More

Rebuilding Your Life from the Ashes

One peculiar feature of a stepfamily is that they are... Read More

Women And Divorce: How Women Should Protect Themselves Financially Regarding Divorce

Women who believe a divorce is a possibility or who... Read More

There Is Life After Divorce

A married woman becomes a single woman for one of... Read More

Surviving Life After Divorce

After divorce, the most important thing you can do is... Read More

How To Identify What The Question Should I Get a Divorce? Means To You

Deciding about whether you should get a divorce or not... Read More

The Impact of Divorce on Families

As a licensed mental health professional, I work with many... Read More

Joint Bank Accounts and Divorce

Here are some useful tips on joint bank accounts and... Read More

A Time of Grief and Healing After Separation and Divorce

I thought I would never feel the light of life... Read More

Alienation of Affection - Interference with marriage can cost big bucks in North Carolina

Non-lawyers are often surprised to learn that a spouse can... Read More

The Heart Moves On: Using Ceremony to Mark the End of a Relationship

Divorce or the end of a long-term relationship is a... Read More

Dating Tips for Divorced and Widowed Moms

Dating is tough for just about everybody, but it's even... Read More

Divorce--How to Beat the System

Of course you want to get your Judgment--that's the goal... Read More

Things To Consider When Making A Decision About Divorce

When making a divorce decision, there are quite a few... Read More

Divorce and Children: Things To Consider When Youre Staying Married Only For Your Children

All children are different and respond differently to divorce. Depending... Read More

Divorce--How the Legal System Works Against You

If there were no legal system, no lawyers and no... Read More

5 Things To Do Before You Even Think About Getting A Divorce

There are many steps to take to protect yourself in... Read More

3 Major Divorce Parenting Mistakes And Learn How To Avoid Them

What 3 major divorce parenting mistakes that surely lead to... Read More

Divorce--Negotiating Agreement: Ten Steps

The best predictor of a good divorce outcome is the... Read More

Divorce and Uncle Sam: Top 10 Things You Should Know When Filing Your Taxes

1. What is my filing status? (Married, Single, Head of... Read More

Hire Divorce Lawyer or Use Online Divorce Forms

When do you need to hire a family law attorney... Read More

5 Ways To Ensure You Will Have a Happy Life After Divorce

Life after divorce is something that most people who are... Read More

What Are You Waiting For?

So, you've decided that you're no longer "a couple", but... Read More

An In-Depth Look at Army Divorce Rates

Raleigh, NC-The largest divorce firm in the state, Rosen Law... Read More