Ruined credit due to joint account

Unfortunately since it's joint credit it will remain on your credit.. you can always call up the creditor and ask if they can remove it from your credit, but you have no legal grounds to force them to do it. You might be able to negotiate with the creditor and do a "pay for delete", that is where you offer them either the full amount or a settled portion of it, and in trade they remove it from your credit. Not all creditors do that, but it's worth a shot to ask.

Since its a joint account, you are liable for the full amount. You will have to pay it off if your husband refuses to avoid further liability.

Hi Elisa,

Welcome to our forums.

If you are a co-applicant, then each of you is responsible for the debt. So even if your spouse doesn't pay, you'll have to or else it will hit your credit.

You may also initiate civil proceedings to recoup some of the costs which your spouse didn't pay. But it will cost you more than what you need to repay.

It's better to pay off the balance, close the account and then open a separate account in your name. In case of a joint account, you can take your name off only if you close it.

Good luck

i am in agreement with caron and jheard; if you agreed to the terms of the credit card to begin with, then you are liable for payment.

your overall best bet is to try and repair your relationship with your husband; take control of the checkbook if you need to, and continue to make the payments necessary to protect your credit rating. so far, so good - you are doing the right thing. just don't make a mistake now.

You will be responsible if he does not pay, but I wonder if since it is a joint account and he did all the charging, if you can prove it, can you file a civil suit to recover your money?

I wanted to address the comment about not wanting him to get good payment history on his credit report by paying the bill. Here are a couple of suggestions. First, if you have another credit card, transfer the balance. Maybe you can apply for a personal loan if you don't have a credit card with enough available balance. Your second option would be to continue paying it but sue him for half the balance. That way there will be a judgement on him plus you will get paid back half at least.

That sounds like some good advise there but I side with jbarto...he should be somehow held accountable..maybe small claims court if you had proper documentation.

I definately agree with Lisa. Why go through all of the hassle of going through court. Iwould just transfer the balance to another card. If you don't have any other cards I'm sure there are lenders out there willing to give you one. When you co-sign a loan or do a joint application you are stating that you will be accountable for that account, whether or not the other person does.

Sueing him for half the balance is about all you can do and chalk it up to a hard lesson learned, goodluck, hope you recover some of your money anyway, you should be able to get the judgement for at least half. keep us updated I would like to follow the progress on this, I would personally go for all of it, but if you can only get half, than that is better than nothing right.

What really stinks here is that the p;oster is still responsible for paying the bill until the other guy comes up with some cash.

If he has any intention to do it at all, just made a bad decision to trust, I would not co sign for any one, it is way tooooo risky.

jbarto, in relation to your comment about cosigning...this was a marital situation, i presume. i sure hope that our poster wasn't foolish enough to have signed on a joint basis after a divorce.

i have my qualms about suing for half of the debt. anyone can sue anyone else at any time for anything, but that's no guarantee that the suit will be successful. for posters to have said "i'm sure you will get a judgment" is a little bit short-sighted. we have no idea how this situation would play out in a court of law. we ought not to make assertions about the outcome of a potential lawsuit, especially with our collective ignorance concerning the real situation. there...that's my soapbox approach.

i don't disagree with you, lisa, about the possible transfer of the balance to a credit card of our poster's own. in that way, she can certainly eliminate the hassle of a bad debt while protecting her own credit standing.

if the thought of a lawsuit to collect some of your money back entices you, elisa; i suggest you speak with an attorney who can advise you of your rights as well as the likelihood of a successful day in court.

If I were her gmakerly I would want to recover the money, I am quite aware that no one would get a joint account after divorce, not real sure how you got that I thought that. Any way, you are probably right about other ways to collect the debt, however I think that if the ex made the bill the ex should pay the bill. Seems like a lot of people end up with bills left behind by an ignorant ex spouse.

not to mention the bills they end up with due to an ignorant current spouse!

True but he should be held responsible. Why should she pay for his crap. I definately would talk to an atty asap.